Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Simon Property Group Inc (NYSE:SPG) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,299 shares of the real estate investment trust’s stock after selling 200 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Simon Property Group were worth $980,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Ashburton Jersey Ltd acquired a new position in Simon Property Group in the 2nd quarter worth about $25,000. Griffin Asset Management Inc. acquired a new position in Simon Property Group in the 2nd quarter worth about $26,000. Stonebridge Capital Advisors LLC acquired a new position in Simon Property Group in the 2nd quarter worth about $30,000. Weaver Consulting Group acquired a new position in Simon Property Group in the 2nd quarter worth about $32,000. Finally, Ellevest Inc. acquired a new position in Simon Property Group in the 2nd quarter worth about $42,000. 95.71% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. ValuEngine raised Simon Property Group from a “sell” rating to a “hold” rating in a report on Friday, October 25th. SunTrust Banks lowered their price objective on Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Morgan Stanley lowered their price objective on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. BTIG Research lowered their price objective on Simon Property Group to $218.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Citigroup lowered Simon Property Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $187.00 to $170.00 in a report on Monday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Simon Property Group has an average rating of “Hold” and an average price target of $187.10.
Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, missing the consensus estimate of $3.05 by ($1.28). Simon Property Group had a net margin of 40.23% and a return on equity of 66.93%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $3.05 EPS. Simon Property Group’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts forecast that Simon Property Group Inc will post 12.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $8.40 annualized dividend and a yield of 5.44%. Simon Property Group’s payout ratio is 69.25%.
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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