Tower View Investment Management & Research LLC lifted its stake in Simon Property Group Inc (NYSE:SPG) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,008 shares of the real estate investment trust’s stock after acquiring an additional 83 shares during the period. Tower View Investment Management & Research LLC’s holdings in Simon Property Group were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $490,827,000. FMR LLC raised its holdings in shares of Simon Property Group by 19.8% in the 4th quarter. FMR LLC now owns 8,049,529 shares of the real estate investment trust’s stock worth $1,352,241,000 after purchasing an additional 1,331,005 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Simon Property Group by 200.7% in the 4th quarter. APG Asset Management N.V. now owns 862,345 shares of the real estate investment trust’s stock worth $126,725,000 after purchasing an additional 575,600 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Simon Property Group by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock worth $790,441,000 after purchasing an additional 507,345 shares in the last quarter. Finally, Athena Capital Advisors LLC raised its holdings in shares of Simon Property Group by 173,950.8% in the 1st quarter. Athena Capital Advisors LLC now owns 410,760 shares of the real estate investment trust’s stock worth $63,401,000 after purchasing an additional 410,524 shares in the last quarter. 95.62% of the stock is owned by institutional investors.
A number of analysts recently commented on SPG shares. Barclays set a €45.00 ($52.33) target price on shares of Zalando and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating on shares of in a report on Thursday, June 20th. JPMorgan Chase & Co. upgraded shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a report on Monday, June 3rd. Deutsche Bank set a $60.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a report on Tuesday, June 11th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Hold” and an average price target of $190.07.
Shares of SPG stock traded down $0.38 during trading hours on Friday, reaching $157.94. 856,919 shares of the stock traded hands, compared to its average volume of 1,411,090. Simon Property Group Inc has a 1-year low of $155.04 and a 1-year high of $191.49. The firm has a fifty day moving average of $161.91. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $48.92 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.89 and a beta of 0.52.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.02. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Simon Property Group Inc will post 12.38 earnings per share for the current year.
In other Simon Property Group news, insider John Rulli sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total value of $1,613,717.20. Following the transaction, the insider now owns 29,646 shares in the company, valued at approximately $5,222,735.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.75% of the stock is currently owned by corporate insiders.
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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