Bbva Compass Bancshares Inc. Raises Stake in Simon Property Group Inc (SPG)

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Bbva Compass Bancshares Inc. lifted its position in shares of Simon Property Group Inc (NYSE:SPG) by 4.3% in the first quarter, HoldingsChannel.com reports. The firm owned 1,922 shares of the real estate investment trust’s stock after purchasing an additional 80 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Simon Property Group were worth $350,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of Simon Property Group by 4.7% during the 1st quarter. Private Trust Co. NA now owns 1,310 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 59 shares during the period. San Francisco Sentry Investment Group CA grew its holdings in shares of Simon Property Group by 6.9% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 933 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 60 shares during the period. First Personal Financial Services boosted its holdings in Simon Property Group by 37.4% in the 4th quarter. First Personal Financial Services now owns 224 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 61 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in Simon Property Group by 13.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 527 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 62 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Simon Property Group by 11.8% in the 1st quarter. Parallel Advisors LLC now owns 599 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 96.49% of the company’s stock.

A number of equities analysts have weighed in on the company. Wells Fargo & Co cut Simon Property Group from an “overweight” rating to a “market weight” rating in a report on Friday, February 8th. Barclays restated a “buy” rating and issued a $202.00 price target on shares of Simon Property Group in a report on Tuesday, April 16th. Mizuho cut Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price target for the company. in a report on Friday, February 15th. Finally, BMO Capital Markets restated a “buy” rating and issued a $191.00 price target on shares of Simon Property Group in a report on Friday, February 1st. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Simon Property Group has an average rating of “Hold” and a consensus price target of $192.14.

NYSE SPG opened at $177.00 on Thursday. The company has a market capitalization of $54.07 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 3.18 and a beta of 0.54. Simon Property Group Inc has a fifty-two week low of $152.50 and a fifty-two week high of $191.49. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.02. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. Simon Property Group’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 EPS. As a group, sell-side analysts forecast that Simon Property Group Inc will post 12.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Thursday, May 16th. Simon Property Group’s dividend payout ratio (DPR) is currently 67.60%.

Simon Property Group declared that its board has approved a stock buyback plan on Tuesday, February 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management 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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