Pendal Group Ltd Sells 4,400 Shares of Simon Property Group Inc (SPG)

Pendal Group Ltd decreased its position in Simon Property Group Inc (NYSE:SPG) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,900 shares of the real estate investment trust’s stock after selling 4,400 shares during the quarter. Pendal Group Ltd’s holdings in Simon Property Group were worth $10,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC bought a new stake in shares of Simon Property Group in the 2nd quarter worth about $668,000. BTC Capital Management Inc. grew its holdings in shares of Simon Property Group by 2.7% in the 2nd quarter. BTC Capital Management Inc. now owns 32,678 shares of the real estate investment trust’s stock worth $5,567,000 after purchasing an additional 851 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Simon Property Group by 219.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,317 shares of the real estate investment trust’s stock worth $2,437,000 after purchasing an additional 9,842 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Simon Property Group by 7.3% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,070,931 shares of the real estate investment trust’s stock worth $522,642,000 after purchasing an additional 208,486 shares during the last quarter. Finally, Rampart Investment Management Company LLC grew its holdings in shares of Simon Property Group by 265.3% in the 2nd quarter. Rampart Investment Management Company LLC now owns 12,200 shares of the real estate investment trust’s stock worth $2,076,000 after purchasing an additional 8,860 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

SPG has been the topic of several analyst reports. Barclays upped their target price on shares of Simon Property Group from $184.00 to $192.00 and gave the stock an “overweight” rating in a report on Tuesday, July 17th. Jefferies Financial Group reaffirmed a “$170.72” rating and issued a $194.00 target price on shares of Simon Property Group in a report on Wednesday, July 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $175.00 target price on shares of Simon Property Group in a report on Monday, July 30th. Wells Fargo & Co upped their target price on shares of Simon Property Group from $175.00 to $183.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, Citigroup upped their target price on shares of Simon Property Group from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Simon Property Group has an average rating of “Buy” and a consensus price target of $195.42.

NYSE:SPG traded up $1.55 during mid-day trading on Wednesday, reaching $185.18. 2,567 shares of the company were exchanged, compared to its average volume of 1,877,654. The firm has a market cap of $57.79 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.45 and a beta of 0.40. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 6.14. Simon Property Group Inc has a 12 month low of $145.78 and a 12 month high of $188.21.

Simon Property Group (NYSE:SPG) last issued 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 for the quarter, compared to analyst estimates of $1.42 billion. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. As a group, equities analysts predict that Simon Property Group Inc will post 12.13 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Thursday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is presently 71.36%.

In other news, insider John Rulli sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total value of $1,119,120.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.64% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by WKRB News and is owned by of WKRB News. If you are accessing this piece of content on another website, it was illegally stolen and reposted in violation of United States & international copyright law. The correct version of this piece of content can be read at https://www.wkrb13.com/2018/11/07/pendal-group-ltd-sells-4400-shares-of-simon-property-group-inc-spg.html.

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.

Featured Story: Technical Analysis of Stocks, How Can It Help

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group Inc (NYSE:SPG).

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply