Trust Co. of Vermont raised its position in shares of Simon Property Group Inc (NYSE:SPG) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,793 shares of the real estate investment trust’s stock after purchasing an additional 86 shares during the period. Trust Co. of Vermont’s holdings in Simon Property Group were worth $873,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Capital Investment Advisory Services LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth about $25,000. Community Bank N.A. bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $28,000. Lindbrook Capital LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth approximately $35,000. Legacy Advisors LLC purchased a new position in shares of Simon Property Group in the first quarter worth approximately $36,000. Finally, Sontag Advisory LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth approximately $37,000. 95.74% of the stock is owned by hedge funds and other institutional investors.
In other news, insider John Rulli sold 9,160 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $176.17, for a total value of $1,613,717.20. Following the sale, the insider now owns 29,646 shares of the company’s stock, valued at approximately $5,222,735.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.75% of the company’s stock.
SPG stock traded down $4.13 during trading hours on Wednesday, hitting $163.96. The company’s stock had a trading volume of 2,022,414 shares, compared to its average volume of 1,392,394. The company has a market capitalization of $51.93 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 3.11 and a beta of 0.54. Simon Property Group Inc has a 12 month low of $158.21 and a 12 month high of $191.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.02. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that Simon Property Group Inc will post 12.38 EPS for the current fiscal year.
Simon Property Group announced that its Board of Directors has approved a share repurchase program on Tuesday, February 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, May 16th. Simon Property Group’s dividend payout ratio is 67.60%.
Several research firms have recently weighed in on SPG. Barclays reissued a “buy” rating and issued a $202.00 target price on shares of Simon Property Group in a research report on Tuesday, April 16th. Mizuho downgraded shares of Simon Property Group to a “hold” rating and set a $193.00 target price on the stock. in a research report on Tuesday, February 26th. Wells Fargo & Co downgraded shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a research report on Friday, February 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $191.00 target price on shares of Simon Property Group in a research report on Friday, February 1st. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Simon Property Group has a consensus rating of “Hold” and a consensus target price of $192.14.
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Simon Property Group 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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