Investors Sell Shares of Simon Property Group (SPG) on Strength (SPG)

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Traders sold shares of Simon Property Group Inc (NYSE:SPG) on strength during trading hours on Wednesday. $45.50 million flowed into the stock on the tick-up and $79.90 million flowed out of the stock on the tick-down, for a money net flow of $34.40 million out of the stock. Of all equities tracked, Simon Property Group had the 20th highest net out-flow for the day. Simon Property Group traded up $0.54 for the day and closed at $173.94

A number of equities analysts have commented on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $191.00 price target on shares of Simon Property Group in a research note on Friday, February 1st. Mizuho cut Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price target on the stock. in a research note on Friday, February 15th. Wells Fargo & Co cut Simon Property Group from an “overweight” rating to a “market weight” rating in a research note on Friday, February 8th. Deutsche Bank set a $191.00 price target on Simon Property Group and gave the stock a “hold” rating in a research note on Friday, November 30th. Finally, Morgan Stanley set a $180.00 price target on Simon Property Group and gave the stock a “hold” rating in a research note on Tuesday, November 27th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $194.67.

The stock has a market capitalization of $53.86 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 2.96 and a beta of 0.58. The company has a debt-to-equity ratio of 6.21, a current ratio of 0.97 and a quick ratio of 0.97.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, February 1st. The real estate investment trust reported $3.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.24 by ($0.01). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a return on equity of 63.21% and a net margin of 43.11%. Simon Property Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 earnings per share. As a group, equities analysts expect that Simon Property Group Inc will post 12.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th were given a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Wednesday, February 13th. Simon Property Group’s dividend payout ratio (DPR) is currently 67.60%.

Simon Property Group announced that its Board of Directors has authorized a share buyback program on Tuesday, February 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Several hedge funds have recently modified their holdings of SPG. San Francisco Sentry Investment Group CA boosted its position in shares of Simon Property Group by 6.9% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 933 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 60 shares in the last quarter. First Personal Financial Services boosted its position in shares of Simon Property Group by 37.4% during the fourth quarter. First Personal Financial Services now owns 224 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 61 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Simon Property Group by 22.6% during the third quarter. Cornerstone Advisors Inc. now owns 369 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 68 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Simon Property Group by 4.9% during the fourth quarter. Hilltop Holdings Inc. now owns 1,448 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 68 shares in the last quarter. Finally, Gradient Investments LLC boosted its position in shares of Simon Property Group by 42.6% during the fourth quarter. Gradient Investments LLC now owns 291 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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About Simon Property Group (NYSE:SPG)

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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