Gulf International Bank UK Ltd raised its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,026 shares of the real estate investment trust’s stock after acquiring an additional 212 shares during the period. Gulf International Bank UK Ltd’s holdings in Simon Property Group were worth $4,229,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. grew its position in Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Rise Advisors LLC increased its position in shares of Simon Property Group by 145.9% during the first quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 162 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Finally, Highlander Capital Management LLC lifted its position in Simon Property Group by 183.5% in the 4th quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 200 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on SPG shares. Morgan Stanley boosted their price target on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Scotiabank boosted their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Argus raised their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Evercore ISI lifted their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.60.
Simon Property Group Trading Down 0.1 %
Shares of Simon Property Group stock opened at $146.16 on Friday. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82. The company’s fifty day simple moving average is $146.77 and its 200-day simple moving average is $146.14. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a market capitalization of $47.64 billion, a PE ratio of 18.62, a P/E/G ratio of 8.70 and a beta of 1.71.
Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted $2.74 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.
Simon Property Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $2.00 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, June 7th. Simon Property Group’s dividend payout ratio is presently 101.91%.
Simon Property Group Company Profile
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
Further Reading
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