Trust Co. of Vermont boosted its holdings in Simon Property Group Inc (NYSE:SPG) by 1.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,863 shares of the real estate investment trust’s stock after purchasing an additional 70 shares during the period. Trust Co. of Vermont’s holdings in Simon Property Group were worth $776,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Life Insurance Co. raised its stake in Simon Property Group by 3.7% during the second quarter. Sumitomo Life Insurance Co. now owns 12,142 shares of the real estate investment trust’s stock valued at $1,940,000 after buying an additional 432 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Simon Property Group by 78.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 10,942 shares of the real estate investment trust’s stock valued at $1,748,000 after buying an additional 4,801 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Simon Property Group by 9.2% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,903 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 245 shares in the last quarter. Hartford Investment Management Co. raised its stake in Simon Property Group by 0.9% during the second quarter. Hartford Investment Management Co. now owns 44,158 shares of the real estate investment trust’s stock valued at $7,055,000 after buying an additional 398 shares in the last quarter. Finally, Zeke Capital Advisors LLC raised its position in shares of Simon Property Group by 1.6% during the 2nd quarter. Zeke Capital Advisors LLC now owns 8,293 shares of the real estate investment trust’s stock worth $1,325,000 after purchasing an additional 133 shares during the period. 95.24% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John Rulli sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total value of $1,613,717.20. Following the sale, the insider now directly owns 29,646 shares in the company, valued at approximately $5,222,735.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.75% of the stock is owned by company insiders.
SPG traded down $1.59 during trading hours on Wednesday, hitting $151.87. The company’s stock had a trading volume of 54,657 shares, compared to its average volume of 1,571,850. Simon Property Group Inc has a fifty-two week low of $152.83 and a fifty-two week high of $191.49. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 7.02. The stock has a market capitalization of $47.41 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.90 and a beta of 0.52. The business’s 50-day moving average is $160.82.
Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 EPS for the quarter, beating the consensus estimate of $2.98 by $0.01. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm earned $2.98 EPS. The firm’s revenue was up .7% compared to the same quarter last year. Equities analysts expect that Simon Property Group Inc will post 12.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Thursday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is currently 67.60%.
SPG has been the topic of a number of research reports. Morgan Stanley dropped their price target on Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 20th. Citigroup dropped their price target on Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Barclays reiterated a “buy” rating and set a $202.00 price target on shares of Simon Property Group in a research report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price target on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. Finally, ValuEngine cut Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $190.62.
Simon Property Group Company Profile
Simon is a global leader 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.
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