Simon Property Group, Inc. (NYSE:SPG) is Presima Inc.’s 2nd Largest Position

Presima Inc. increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 1,467.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 371,585 shares of the real estate investment trust’s stock after buying an additional 347,885 shares during the period. Simon Property Group comprises approximately 8.3% of Presima Inc.’s portfolio, making the stock its 2nd largest position. Presima Inc. owned 0.12% of Simon Property Group worth $60,108,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. 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 valued at $419,000 after buying an additional 15 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its position in shares of 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 during the period. Alpha Windward LLC raised its position in shares of 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 during the period. Guardian Life Insurance Co. of America raised its position in shares of 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 during the period. Finally, IHT Wealth Management LLC raised its position in shares of 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 during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Shares of Simon Property Group, Inc. (SPG) opened at 158.50 on Tuesday. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $227.50. The stock’s 50 day moving average is $159.97 and its 200 day moving average is $168.28. The stock has a market cap of $49.48 billion, a price-to-earnings ratio of 27.12 and a beta of 0.58.

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A number of brokerages have weighed in on SPG. Jefferies Group LLC reissued a “buy” rating and issued a $210.00 target price on shares of Simon Property Group in a research report on Monday, April 17th. Barclays PLC decreased their target price on 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. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. BTIG Research reissued a “buy” rating and issued a $231.00 target price on shares of Simon Property Group in a research report on Monday, April 3rd. Finally, Vetr lowered Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 target price for the company. in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” 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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