Investors Sell Shares of Simon Property Group, Inc. (SPG) on Strength (SPG)

Investors sold shares of Simon Property Group, Inc. (NYSE:SPG) on strength during trading hours on Tuesday. $40.10 million flowed into the stock on the tick-up and $83.50 million flowed out of the stock on the tick-down, for a money net flow of $43.40 million out of the stock. Of all stocks tracked, Simon Property Group had the 0th highest net out-flow for the day. Simon Property Group traded up $1.77 for the day and closed at $167.10

SPG has been the subject of several analyst reports. Stifel Nicolaus set a $170.00 price target on shares of Simon Property Group and gave the stock a “hold” rating in a report on Sunday, August 27th. Argus cut their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Jefferies Group LLC reissued a “buy” rating and set a $200.00 price target (up from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a report on Wednesday, October 11th. Finally, BidaskClub cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $193.07.

The firm has a market cap of $51.13 billion, a price-to-earnings ratio of 29.32 and a beta of 0.60. The company’s 50 day moving average is $161.08 and its 200-day moving average is $161.40.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 EPS. Equities research analysts predict that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Kissinger Financial Services LLC increased its position in shares of Simon Property Group by 1.4% in the second quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock worth $3,566,000 after acquiring an additional 294 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Simon Property Group by 9.7% in the second quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock worth $988,797,000 after acquiring an additional 542,743 shares in the last quarter. Thrivent Financial For Lutherans increased its position in shares of Simon Property Group by 1.5% in the second quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock worth $28,021,000 after acquiring an additional 2,530 shares in the last quarter. Eaton Vance Management increased its position in shares of Simon Property Group by 110.5% in the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after acquiring an additional 811,457 shares in the last quarter. Finally, Partners Value Investments LP purchased a new position in shares of Simon Property Group in the second quarter worth approximately $11,647,000. 94.70% of the stock is currently owned by institutional investors and hedge funds.

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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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