Simon Property Group Inc (SPG) Position Lifted by Skandinaviska Enskilda Banken AB publ
Skandinaviska Enskilda Banken AB publ increased its stake in Simon Property Group Inc (NYSE:SPG) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,552 shares of the real estate investment trust’s stock after buying an additional 900 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Simon Property Group were worth $10,877,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its stake in Simon Property Group by 27.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares during the period. Highstreet Asset Management Inc. purchased a new position in Simon Property Group in the 2nd quarter worth about $157,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Simon Property Group by 0.7% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 7 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Simon Property Group in the 2nd quarter worth about $162,000. Finally, Boston Private Wealth LLC increased its stake in Simon Property Group by 5.3% in the 2nd quarter. Boston Private Wealth LLC now owns 1,261 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 63 shares during the period. 47.59% of the stock is currently owned by institutional investors.
SPG has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Simon Property Group in a research note on Monday, September 11th. They issued an “outperform” rating and a $175.00 price target on the stock. Stifel Nicolaus set a $170.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, August 27th. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Argus cut their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $191.45.
Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $2.70 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. equities research analysts expect that Simon Property Group Inc will post 11.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were issued a $1.85 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is currently 130.51%.
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Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
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