Tredje AP fonden grew its stake in Simon Property Group Inc (NYSE:SPG) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,464 shares of the real estate investment trust’s stock after acquiring an additional 2,437 shares during the period. Tredje AP fonden’s holdings in Simon Property Group were worth $1,232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SPG. HBC Financial Services PLLC acquired a new position in Simon Property Group during the 4th quarter worth approximately $30,000. Ancora Advisors LLC bought a new position in Simon Property Group in the fourth quarter valued at about $60,000. Orion Portfolio Solutions LLC bought a new position in Simon Property Group in the fourth quarter valued at about $77,000. Atlas Capital Advisors LLC acquired a new position in Simon Property Group in the first quarter valued at about $29,000. Finally, Howe & Rusling Inc. acquired a new position in Simon Property Group in the first quarter valued at about $30,000. Institutional investors and hedge funds own 90.22% of the company’s stock.

In other Simon Property Group news, Director Glyn Aeppel bought 1,000 shares of the stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $50.50 per share, for a total transaction of $50,500.00. Following the completion of the acquisition, the director now owns 8,317 shares of the company’s stock, valued at $420,008.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.93% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on SPG shares. Compass Point assumed coverage on Simon Property Group in a research report on Thursday, June 4th. They set a “buy” rating and a $120.00 price target on the stock. Zacks Investment Research upgraded Simon Property Group from a “sell” rating to a “hold” rating and set a $60.00 price target for the company in a research note on Monday, May 11th. BTIG Research reiterated a “buy” rating and set a $99.00 target price on shares of Simon Property Group in a research note on Friday, June 12th. JPMorgan Chase & Co. reduced their target price on Simon Property Group from $145.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Finally, Citigroup reduced their target price on Simon Property Group from $147.00 to $49.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $96.06.

Shares of Simon Property Group stock traded down $2.06 during trading on Friday, reaching $62.88. 2,281,523 shares of the company’s stock were exchanged, compared to its average volume of 11,511,920. The company has a debt-to-equity ratio of 11.16, a quick ratio of 3.60 and a current ratio of 3.60. Simon Property Group Inc has a 1-year low of $42.25 and a 1-year high of $165.48. The company has a market cap of $20.81 billion, a P/E ratio of 10.05, a PEG ratio of 1.22 and a beta of 1.32. The firm’s 50-day moving average price is $64.63 and its 200 day moving average price is $99.77.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($1.47). Simon Property Group had a return on equity of 68.08% and a net margin of 35.20%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm posted $1.78 EPS. Simon Property Group’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, equities research analysts predict that Simon Property Group Inc will post 10.72 EPS for the current year.

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

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