Nisa Investment Advisors LLC boosted its stake in Simon Property Group Inc (NYSE:SPG) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,761 shares of the real estate investment trust’s stock after purchasing an additional 17,172 shares during the period. Nisa Investment Advisors LLC’s holdings in Simon Property Group were worth $19,881,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Parallel Advisors LLC increased its holdings in Simon Property Group by 69.7% in the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 317 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Simon Property Group by 0.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 7 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Simon Property Group by 791.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 4,843 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new stake in shares of Simon Property Group during the third quarter valued at about $204,000. Finally, Probity Advisors Inc. acquired a new stake in shares of Simon Property Group during the third quarter valued at about $211,000. Hedge funds and other institutional investors own 47.38% of the company’s stock.
Simon Property Group Inc (SPG) opened at $165.51 on Friday. The company has a market capitalization of $52,960.00, a PE ratio of 29.24, a P/E/G ratio of 2.06 and a beta of 0.62. Simon Property Group Inc has a 52 week low of $150.15 and a 52 week high of $187.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $2.70 earnings per share. analysts anticipate that Simon Property Group Inc will post 11.21 EPS for the current fiscal year.
In related news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the transaction, the chief accounting officer now directly owns 2,290 shares in the company, valued at $393,765.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.42% of the stock is currently owned by company insiders.
SPG has been the subject of several recent analyst reports. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a research note on Wednesday, October 11th. Stifel Nicolaus restated a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a research note on Thursday, October 12th. BMO Capital Markets set a $175.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Friday, October 27th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Mizuho set a $183.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Sunday, October 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $191.11.
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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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