Candriam Luxembourg S.C.A. Sells 3,502 Shares of Simon Property Group Inc (NYSE:SPG)

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Candriam Luxembourg S.C.A. cut its holdings in Simon Property Group Inc (NYSE:SPG) by 9.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,428 shares of the real estate investment trust’s stock after selling 3,502 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Simon Property Group were worth $4,979,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of Simon Property Group by 11.2% in the 3rd quarter. Parallel Advisors LLC now owns 841 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 85 shares in the last quarter. Triangle Securities Wealth Management raised its position in shares of Simon Property Group by 2.3% in the 4th quarter. Triangle Securities Wealth Management now owns 3,724 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 85 shares in the last quarter. Signature Wealth Management Group raised its position in shares of Simon Property Group by 0.4% in the 4th quarter. Signature Wealth Management Group now owns 20,281 shares of the real estate investment trust’s stock worth $3,021,000 after acquiring an additional 88 shares in the last quarter. BTC Capital Management Inc. raised its position in shares of Simon Property Group by 0.3% in the 3rd quarter. BTC Capital Management Inc. now owns 31,876 shares of the real estate investment trust’s stock worth $4,952,000 after acquiring an additional 89 shares in the last quarter. Finally, Exane Derivatives raised its position in shares of Simon Property Group by 19.9% in the 4th quarter. Exane Derivatives now owns 578 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 96 shares in the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Simon Property Group stock opened at $138.92 on Friday. Simon Property Group Inc has a one year low of $130.01 and a one year high of $186.40. The firm has a market capitalization of $44.52 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.69 and a beta of 0.59. The business has a 50-day simple moving average of $143.63 and a 200 day simple moving average of $149.46. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.08 and a quick ratio of 3.34.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $2.95 by ($1.29). Simon Property Group had a net margin of 36.52% and a return on equity of 65.24%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that Simon Property Group Inc will post 12.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Thursday, February 13th. Simon Property Group’s dividend payout ratio is currently 69.77%.

Several research analysts have recently weighed in on the company. Wells Fargo & Co lowered their price objective on Simon Property Group from $182.00 to $168.00 and set an “overweight” rating for the company in a research report on Tuesday. They noted that the move was a valuation call. BMO Capital Markets reaffirmed an “in-line” rating and issued a $147.00 target price on shares of Simon Property Group in a research report on Wednesday, February 5th. BTIG Research decreased their target price on Simon Property Group to $218.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Stifel Nicolaus decreased their target price on Simon Property Group from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, ValuEngine raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $169.54.

About Simon Property Group

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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Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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