YHB Investment Advisors Inc. boosted its position in Simon Property Group Inc (NYSE:SPG) by 23.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,326 shares of the real estate investment trust’s stock after buying an additional 2,322 shares during the period. YHB Investment Advisors Inc.’s holdings in Simon Property Group were worth $2,071,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Cornerstone Advisors Inc. increased its position in Simon Property Group by 22.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 369 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 68 shares in the last quarter. Capital Bank & Trust Co bought a new stake in Simon Property Group during the 3rd quarter worth approximately $136,000. Honkamp Krueger Financial Services Inc. bought a new stake in Simon Property Group during the 3rd quarter worth approximately $154,000. TRUE Private Wealth Advisors bought a new stake in Simon Property Group during the 3rd quarter worth approximately $156,000. Finally, Capital Guardian Trust Co. bought a new stake in Simon Property Group during the 3rd quarter worth approximately $184,000. 92.79% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on SPG. Raymond James boosted their price objective on Simon Property Group from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, October 29th. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Scotiabank set a $183.00 price objective on Simon Property Group and gave the stock a “hold” rating in a report on Monday, November 12th. Citigroup boosted their price objective on Simon Property Group from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, JPMorgan Chase & Co. raised Simon Property Group from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $193.27.
In other news, insider John Rulli sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total value of $1,119,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.64% of the company’s stock.
SPG stock opened at $172.35 on Friday. The company has a market capitalization of $55.57 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.36 and a beta of 0.53. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.12. Simon Property Group Inc has a 12-month low of $145.78 and a 12-month high of $191.49.
Simon Property Group (NYSE:SPG) last released its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.07. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. Analysts anticipate that Simon Property Group Inc will post 12.13 earnings per share for the current fiscal year.
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.
Further Reading: Diversification
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