Simon Property Group Inc (SPG) Shares Bought by Garland Capital Management Inc.
Garland Capital Management Inc. lifted its position in Simon Property Group Inc (NYSE:SPG) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 20,695 shares of the real estate investment trust’s stock after buying an additional 755 shares during the period. Garland Capital Management Inc.’s holdings in Simon Property Group were worth $3,554,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Simon Property Group by 0.7% in the 2nd 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. WFG Advisors LP lifted its position in Simon Property Group by 1.3% in the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 23 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Simon Property Group by 1.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,596 shares of the real estate investment trust’s stock worth $2,523,000 after buying an additional 173 shares in the last quarter. Parallel Advisors LLC lifted its position 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 buying an additional 317 shares in the last quarter. Finally, Phocas Financial Corp. lifted its position in Simon Property Group by 2.5% in the 2nd quarter. Phocas Financial Corp. now owns 13,323 shares of the real estate investment trust’s stock worth $2,155,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 47.41% of the company’s stock.
A number of equities research analysts have issued reports on SPG shares. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a research report on Wednesday, October 11th. Mizuho set a $183.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, October 29th. BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Argus cut their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $191.11.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. Simon Property Group’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 EPS. equities research analysts anticipate that Simon Property Group Inc will post 11.21 EPS for the current year.
In other news, CAO Steven K. Broadwater sold 621 shares of the firm’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. Following the transaction, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $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.
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Simon Property Group Company Profile
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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