Hoylecohen LLC purchased a new position in shares of Simon Property Group (NYSE:SPG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 52,583 shares of the real estate investment trust’s stock, valued at approximately $9,031,000. Simon Property Group comprises about 1.8% of Hoylecohen LLC’s holdings, making the stock its 14th largest holding.
Several other large investors also recently bought and sold shares of SPG. LPL Financial LLC increased its stake in Simon Property Group by 10.5% in the fourth quarter. LPL Financial LLC now owns 9,060 shares of the real estate investment trust’s stock valued at $1,556,000 after purchasing an additional 861 shares during the period. Millennium Management LLC boosted its holdings in shares of Simon Property Group by 260.6% in the fourth quarter. Millennium Management LLC now owns 405,299 shares of the real estate investment trust’s stock valued at $69,606,000 after acquiring an additional 292,910 shares in the last quarter. Rodgers Brothers Inc. purchased a new stake in Simon Property Group during the fourth quarter worth about $416,000. V3 Capital Management L.P. purchased a new stake in Simon Property Group during the fourth quarter worth about $11,867,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in Simon Property Group by 29.9% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 190,834 shares of the real estate investment trust’s stock worth $32,772,000 after buying an additional 43,964 shares in the last quarter. 94.78% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on SPG shares. Zacks Investment Research lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. ValuEngine downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Boenning Scattergood restated a “buy” rating and issued a $240.00 target price on shares of Simon Property Group in a research note on Thursday, February 1st. Barclays reissued a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a report on Wednesday, January 31st. Finally, JPMorgan Chase cut shares of Simon Property Group from an “overweight” rating to a “neutral” rating in a research note on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $185.61.
Simon Property Group stock opened at $154.10 on Friday. The stock has a market capitalization of $49,828.27, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.99 and a beta of 0.57. Simon Property Group has a 12-month low of $147.28 and a 12-month high of $176.17. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.75 and a quick ratio of 1.75.
Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $1.26 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. sell-side analysts predict that Simon Property Group will post 12 EPS for the current fiscal year.
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Simon Property Group Company Profile
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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