Signature Wealth Management Group Has $3.34 Million Holdings in Simon Property Group Inc (NYSE:SPG)

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Signature Wealth Management Group lowered its position in shares of Simon Property Group Inc (NYSE:SPG) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,859 shares of the real estate investment trust’s stock after selling 160 shares during the quarter. Simon Property Group comprises approximately 2.6% of Signature Wealth Management Group’s portfolio, making the stock its 6th biggest position. Signature Wealth Management Group’s holdings in Simon Property Group were worth $3,336,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC increased its holdings in Simon Property Group by 4.0% in the 3rd quarter. LPL Financial LLC now owns 10,953 shares of the real estate investment trust’s stock worth $1,936,000 after buying an additional 421 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Simon Property Group by 21.4% during the 4th quarter. Whittier Trust Co. now owns 1,915 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 338 shares during the period. First Republic Investment Management Inc. grew its stake in shares of Simon Property Group by 4.5% during the 3rd quarter. First Republic Investment Management Inc. now owns 117,103 shares of the real estate investment trust’s stock valued at $20,698,000 after purchasing an additional 5,077 shares during the period. BB&T Securities LLC grew its stake in shares of Simon Property Group by 1.2% during the 4th quarter. BB&T Securities LLC now owns 109,503 shares of the real estate investment trust’s stock valued at $18,395,000 after purchasing an additional 1,332 shares during the period. Finally, Calamos Advisors LLC grew its stake in shares of Simon Property Group by 17.4% during the 4th quarter. Calamos Advisors LLC now owns 69,880 shares of the real estate investment trust’s stock valued at $11,739,000 after purchasing an additional 10,357 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on SPG. Mizuho downgraded Simon Property Group to a “hold” rating and set a $193.00 price target for the company. in a research note on Tuesday, February 26th. Wells Fargo & Co cut Simon Property Group from an “overweight” rating to a “market weight” rating in a research report on Friday, February 8th. Morgan Stanley set a $180.00 price objective on Simon Property Group and gave the company a “hold” rating in a research report on Tuesday, November 27th. Deutsche Bank set a $191.00 price objective on Simon Property Group and gave the company a “hold” rating in a research report on Friday, November 30th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $191.00 price objective on shares of Simon Property Group in a research report on Friday, February 1st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $194.67.

NYSE:SPG opened at $179.79 on Friday. The company has a debt-to-equity ratio of 6.21, a quick ratio of 0.97 and a current ratio of 0.97. Simon Property Group Inc has a 1 year low of $145.78 and a 1 year high of $191.49. The company has a market capitalization of $55.04 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 3.02 and a beta of 0.58.

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

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

Simon Property Group declared that its board has authorized a stock buyback plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

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About Simon Property Group

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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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