Crossmark Global Holdings Inc. Buys 8,300 Shares of Simon Property Group Inc (NYSE:SPG)

Crossmark Global Holdings Inc. grew its stake in shares of Simon Property Group Inc (NYSE:SPG) by 35.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,717 shares of the real estate investment trust’s stock after acquiring an additional 8,300 shares during the period. Crossmark Global Holdings Inc.’s holdings in Simon Property Group were worth $4,725,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in shares of Simon Property Group by 115.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,268,404 shares of the real estate investment trust’s stock valued at $353,077,000 after buying an additional 1,217,613 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in shares of Simon Property Group by 115.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 761,935 shares of the real estate investment trust’s stock valued at $113,498,000 after buying an additional 408,275 shares in the last quarter. PGGM Investments lifted its stake in shares of Simon Property Group by 7.5% during the 4th quarter. PGGM Investments now owns 3,827,312 shares of the real estate investment trust’s stock valued at $570,116,000 after buying an additional 266,080 shares in the last quarter. Man Group plc lifted its stake in shares of Simon Property Group by 48.3% during the 3rd quarter. Man Group plc now owns 667,733 shares of the real estate investment trust’s stock valued at $103,933,000 after buying an additional 217,533 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Simon Property Group by 0.9% during the 3rd quarter. State Street Corp now owns 22,060,993 shares of the real estate investment trust’s stock valued at $3,433,794,000 after buying an additional 193,806 shares in the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.

NYSE SPG opened at $138.92 on Friday. Simon Property Group Inc has a 1 year low of $130.01 and a 1 year high of $186.40. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.08 and a quick ratio of 3.34. The stock has a market capitalization of $44.43 billion, a PE ratio of 11.52, a P/E/G ratio of 2.47 and a beta of 0.59. The company’s 50 day simple moving average is $143.63 and its two-hundred day simple moving average is $149.46.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.95 by ($1.29). Simon Property Group had a return on equity of 65.24% and a net margin of 36.52%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the company earned $3.23 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Simon Property Group Inc will post 12.4 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 6.05%. The ex-dividend date is Thursday, February 13th. Simon Property Group’s dividend payout ratio is presently 69.77%.

A number of brokerages recently commented on SPG. Morgan Stanley dropped their price target on shares of Simon Property Group from $157.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. ValuEngine upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. cut shares of Simon Property Group from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $162.00 in a research note on Wednesday, December 18th. BTIG Research dropped their price target on shares of Simon Property Group to $218.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Raymond James dropped their price target on shares of Simon Property Group from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $169.54.

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.

Read More: Risk Tolerance

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.