Metropolitan Life Insurance Co. NY Sells 99,175 Shares of Simon Property Group (NYSE:SPG)

Metropolitan Life Insurance Co. NY reduced its stake in Simon Property Group (NYSE:SPG) by 56.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,427 shares of the real estate investment trust’s stock after selling 99,175 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Simon Property Group were worth $13,297,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC raised 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 worth $124,000 after purchasing an additional 317 shares during the period. Advisor Partners LLC raised its holdings in Simon Property Group by 7.6% in the 4th quarter. Advisor Partners LLC now owns 4,540 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 322 shares during the period. Global X MANAGEMENT CO LLC raised its holdings in Simon Property Group by 10.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 3,750 shares of the real estate investment trust’s stock worth $604,000 after purchasing an additional 353 shares during the period. Bbva Compass Bancshares Inc. raised its holdings in Simon Property Group by 19.3% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 2,193 shares of the real estate investment trust’s stock worth $377,000 after purchasing an additional 355 shares during the period. Finally, Wetherby Asset Management Inc. raised its holdings in Simon Property Group by 10.5% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,062 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 387 shares during the period. 94.78% of the stock is currently owned by institutional investors.

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Shares of SPG stock traded down $1.45 during trading hours on Friday, hitting $154.10. The stock had a trading volume of 1,198,839 shares, compared to its average volume of 1,744,897. Simon Property Group has a one year low of $147.28 and a one year high of $176.17. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 5.87. The stock has a market capitalization of $49,828.27, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.57.

Simon Property Group (NYSE:SPG) last issued 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. research analysts predict that Simon Property Group will post 12 EPS for the current fiscal year.

A number of research firms have commented on SPG. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Boenning Scattergood reissued a “buy” rating and set a $240.00 price target on shares of Simon Property Group in a report on Thursday, February 1st. Barclays reissued a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a report on Wednesday, January 31st. ValuEngine cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase cut Simon Property Group from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $185.61.

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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.

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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