Farmers & Merchants Investments Inc. held its position in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, Holdings Channel reports. The institutional investor owned 643 shares of the real estate investment trust’s stock at the end of the second quarter. Farmers & Merchants Investments Inc.’s holdings in Simon Property Group were worth $104,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Norway Savings Bank increased its position in Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 275 shares during the last quarter. Alpha Windward LLC increased 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 valued at $131,000 after buying an additional 30 shares during the last quarter. Rockefeller Financial Services Inc. bought a new position in Simon Property Group during the first quarter valued at $138,000. Israel Discount Bank of New York bought a new position in Simon Property Group during the first quarter valued at $146,000. Finally, IHT Wealth Management LLC increased 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 valued at $155,000 after buying an additional 46 shares during the last quarter. 95.29% of the stock is owned by institutional investors.
Shares of Simon Property Group, Inc. (SPG) opened at 161.57 on Wednesday. The company has a market capitalization of $50.44 billion, a price-to-earnings ratio of 27.65 and a beta of 0.58. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $229.10. The company has a 50-day moving average price of $158.83 and a 200 day moving average price of $169.09.
Simon Property Group (NYSE:SPG) last released 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. Simon Property Group had a net margin of 34.99% and a return on equity of 40.16%. The company 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 business posted $2.63 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts forecast that Simon Property Group, Inc. will post $6.27 EPS for the current fiscal year.
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SPG has been the subject of several recent research reports. Mizuho raised Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Tuesday, May 30th. Jefferies Group LLC reissued a “buy” rating and set a $210.00 price target on shares of Simon Property Group in a research report on Monday, April 17th. BTIG Research reissued a “buy” rating and set a $231.00 price target on shares of Simon Property Group in a research report on Monday, April 3rd. Vetr downgraded Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price target for the company. in a research report on Tuesday, May 2nd. Finally, Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $191.65.
About Simon Property Group
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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