Bruni J V & Co. Co. lifted its position in Simon Property Group Inc (NYSE:SPG) by 1.2% in the 2nd quarter, Holdings Channel reports. The firm owned 74,790 shares of the real estate investment trust’s stock after purchasing an additional 921 shares during the quarter. Simon Property Group makes up about 2.2% of Bruni J V & Co. Co.’s portfolio, making the stock its 20th largest position. Bruni J V & Co. Co.’s holdings in Simon Property Group were worth $12,729,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Kaizen Advisory LLC raised its stake in shares of Simon Property Group by 138.1% in the second quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 413 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new position in shares of Simon Property Group in the second quarter worth about $203,000. Murphy Capital Management Inc. purchased a new position in Simon Property Group during the second quarter valued at approximately $205,000. Greenleaf Trust purchased a new position in Simon Property Group during the first quarter valued at approximately $212,000. Finally, Pitcairn Co. purchased a new position in Simon Property Group during the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.
Shares of SPG stock opened at $180.21 on Wednesday. The company has a debt-to-equity ratio of 6.13, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $57.17 billion, a P/E ratio of 16.08, a P/E/G ratio of 2.44 and a beta of 0.57. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $182.62.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.64 by $0.13. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $1.23 earnings per share. Simon Property Group’s quarterly revenue was up 2.0% compared to the same quarter last year. equities analysts predict that Simon Property Group Inc will post 12.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 17th will be issued a $2.00 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.94. This represents a $8.00 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, August 16th. Simon Property Group’s dividend payout ratio (DPR) is presently 71.36%.
In other Simon Property Group news, CAO Steven K. Broadwater sold 859 shares of the firm’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $170.28, for a total value of $146,270.52. Following the sale, the chief accounting officer now directly owns 1,734 shares of the company’s stock, valued at $295,265.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Rulli sold 1,330 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $177.05, for a total value of $235,476.50. The disclosure for this sale can be found here. 8.64% of the stock is currently owned by company insiders.
SPG has been the subject of several recent research reports. Jefferies Financial Group reiterated a “$170.72” rating and set a $194.00 price target on shares of Simon Property Group in a research report on Wednesday, July 18th. Wells Fargo & Co reiterated an “outperform” rating and set a $175.00 price target (down from $185.00) on shares of Simon Property Group in a research report on Tuesday, May 1st. ValuEngine cut Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Boenning Scattergood reiterated a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a research report on Monday, April 30th. Finally, Barclays lifted their price target on Simon Property Group from $184.00 to $192.00 and gave the company an “overweight” rating in a research report on Tuesday, July 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $188.23.
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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