Main Street Research LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 17.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,285 shares of the real estate investment trust’s stock after selling 281 shares during the period. Main Street Research LLC’s holdings in Simon Property Group were worth $208,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of SPG. Lincluden Management Ltd. raised its position in Simon Property Group by 44.0% in the fourth quarter. Lincluden Management Ltd. now owns 33,595 shares of the real estate investment trust’s stock valued at $5,969,000 after buying an additional 10,265 shares during the last quarter. Quadrature Capital Ltd bought a new position in Simon Property Group during the fourth quarter valued at $6,887,000. Brookfield Asset Management Inc. raised its position in Simon Property Group by 28.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,264,105 shares of the real estate investment trust’s stock valued at $402,264,000 after buying an additional 495,300 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Simon Property Group by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,670,858 shares of the real estate investment trust’s stock valued at $296,861,000 after buying an additional 44,399 shares during the last quarter. Finally, Whalerock Point Partners LLC raised its position in Simon Property Group by 8.6% in the fourth quarter. Whalerock Point Partners LLC now owns 1,650 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 131 shares during the last quarter. Institutional investors own 95.07% of the company’s stock.
Shares of Simon Property Group, Inc. (SPG) traded down 1.09% during midday trading on Tuesday, hitting $160.37. 815,245 shares of the stock were exchanged. The stock has a market cap of $50.07 billion, a P/E ratio of 27.44 and a beta of 0.58. The firm’s 50 day moving average price is $157.68 and its 200-day moving average price is $171.65. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $229.10.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.76 by $0.02. Simon Property Group had a return on equity of 40.16% and a net margin of 34.99%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company earned $2.63 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts expect that Simon Property Group, Inc. will post $6.34 earnings per share for the current fiscal year.
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SPG has been the subject of several research reports. Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a research report on Monday, March 20th. Canaccord Genuity reduced their price target on shares of Simon Property Group from $250.00 to $224.00 and set a “buy” rating for the company in a research report on Monday, March 27th. BTIG Research restated a “buy” rating and set a $231.00 price target on shares of Simon Property Group in a research report on Monday, April 3rd. Jefferies Group LLC restated a “buy” rating and set a $210.00 price target on shares of Simon Property Group in a research report on Monday, April 17th. Finally, Barclays PLC reduced their price target on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $191.65.
Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
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