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

Traders sold shares of Simon Property Group Inc (NYSE:SPG) on strength during trading hours on Thursday. $44.95 million flowed into the stock on the tick-up and $111.20 million flowed out of the stock on the tick-down, for a money net flow of $66.25 million out of the stock. Of all stocks tracked, Simon Property Group had the 23rd highest net out-flow for the day. Simon Property Group traded up $1.65 for the day and closed at $179.79

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

The company has a debt-to-equity ratio of 6.21, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $55.04 billion, a PE ratio of 14.82, a P/E/G ratio of 3.02 and a beta of 0.58.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th were paid a $2.05 dividend. The ex-dividend date of this dividend was Wednesday, February 13th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is 67.60%.

Simon Property Group declared that its board has initiated a share repurchase plan on Tuesday, February 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Several large investors have recently bought and sold shares of SPG. Robeco Institutional Asset Management B.V. raised its stake in shares of Simon Property Group by 20.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 181,996 shares of the real estate investment trust’s stock valued at $32,166,000 after acquiring an additional 30,352 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Simon Property Group in the 3rd quarter worth approximately $349,000. Private Advisor Group LLC raised its position in Simon Property Group by 11.1% in the 3rd quarter. Private Advisor Group LLC now owns 4,368 shares of the real estate investment trust’s stock worth $772,000 after purchasing an additional 436 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Simon Property Group by 2.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,442 shares of the real estate investment trust’s stock worth $3,436,000 after purchasing an additional 383 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in Simon Property Group in the 3rd quarter worth approximately $235,000. Institutional investors own 92.33% 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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