Rodgers Brothers Inc. Invests $416,000 in Simon Property Group Inc (SPG) Stock
Rodgers Brothers Inc. purchased a new stake in Simon Property Group Inc (NYSE:SPG) during the fourth quarter, Holdings Channel reports. The firm purchased 2,425 shares of the real estate investment trust’s stock, valued at approximately $416,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in Simon Property Group by 69.7% in the third quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 317 shares in the last quarter. Advisor Partners LLC boosted its position in Simon Property Group by 7.6% in the fourth quarter. Advisor Partners LLC now owns 4,540 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 322 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its position in Simon Property Group by 10.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 3,750 shares of the real estate investment trust’s stock valued at $604,000 after buying an additional 353 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in Simon Property Group by 19.3% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 2,193 shares of the real estate investment trust’s stock valued at $377,000 after buying an additional 355 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in Simon Property Group by 10.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,062 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.
In related news, CAO Steven K. Broadwater sold 621 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $171.95, for a total value of $106,780.95. Following the transaction, the chief accounting officer now directly owns 2,290 shares in the company, valued at $393,765.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.42% of the company’s stock.
Simon Property Group Inc (NYSE SPG) opened at $157.47 on Wednesday. Simon Property Group Inc has a 12-month low of $150.15 and a 12-month high of $176.17. The stock has a market cap of $50,209.46, a P/E ratio of 25.20, a PEG ratio of 2.01 and a beta of 0.58. The company has a debt-to-equity ratio of 5.87, a quick ratio of 1.75 and a current ratio of 1.75.
Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.12. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business earned $1.26 earnings per share. Simon Property Group’s quarterly revenue was up .1% on a year-over-year basis. research analysts anticipate that Simon Property Group Inc will post 12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $1.95 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Tuesday, February 13th. Simon Property Group’s dividend payout ratio is currently 124.80%.
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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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