Gulf International Bank UK Ltd raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,877 shares of the real estate investment trust’s stock after buying an additional 1,880 shares during the period. Gulf International Bank UK Ltd’s holdings in Simon Property Group were worth $16,156,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Logan Capital Management Inc. raised its position in Simon Property Group by 0.6% in the first quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 15 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its position in Simon Property Group by 1.0% in the first quarter. Lederer & Associates Investment Counsel CA now owns 2,550 shares of the real estate investment trust’s stock worth $439,000 after buying an additional 25 shares in the last quarter. Alpha Windward LLC raised its position in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Simon Property Group by 2.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 31 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in Simon Property Group by 5.3% in the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.
Simon Property Group, Inc. (NYSE:SPG) traded down 0.27% on Friday, hitting $160.58. 1,321,509 shares of the stock were exchanged. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $229.10. The firm has a market cap of $50.13 billion, a P/E ratio of 27.48 and a beta of 0.58. The company has a 50-day moving average of $158.46 and a 200 day moving average of $169.54.
Simon Property Group (NYSE:SPG) last posted its 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. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Simon Property Group had a net margin of 34.99% and a return on equity of 40.16%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 earnings per share. Equities research analysts expect that Simon Property Group, Inc. will post $6.27 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on SPG. Barclays PLC reduced their price objective on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Zacks Investment Research lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research note on Monday, July 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $182.00 price objective on shares of Simon Property Group in a research note on Thursday, May 18th. Finally, Argus reduced their price objective on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus 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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