Simon Property Group Inc (SPG) Holdings Boosted by Ingalls & Snyder LLC

Ingalls & Snyder LLC grew its stake in shares of Simon Property Group Inc (NYSE:SPG) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,429 shares of the real estate investment trust’s stock after buying an additional 823 shares during the period. Ingalls & Snyder LLC’s holdings in Simon Property Group were worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State of Alaska Department of Revenue boosted its holdings in Simon Property Group by 16.2% during the fourth quarter. State of Alaska Department of Revenue now owns 210,413 shares of the real estate investment trust’s stock worth $36,133,000 after buying an additional 29,292 shares during the last quarter. Cardinal Capital Management Inc. bought a new position in Simon Property Group during the fourth quarter worth about $11,275,000. Westpac Banking Corp boosted its holdings in Simon Property Group by 0.6% during the fourth quarter. Westpac Banking Corp now owns 424,156 shares of the real estate investment trust’s stock worth $72,845,000 after buying an additional 2,670 shares during the last quarter. Cullinan Associates Inc. boosted its holdings in Simon Property Group by 5.1% during the fourth quarter. Cullinan Associates Inc. now owns 28,115 shares of the real estate investment trust’s stock worth $4,828,000 after buying an additional 1,375 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Simon Property Group by 5.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,999,392 shares of the real estate investment trust’s stock worth $515,116,000 after buying an additional 161,969 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

In related news, SVP Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. The sale was disclosed in a document filed with the SEC, which is available at this link. 8.42% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on SPG shares. SunTrust Banks set a $170.00 target price on Simon Property Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Stifel Nicolaus restated a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a report on Thursday, October 12th. Royal Bank of Canada restated a “hold” rating and set a $176.00 target price on shares of Simon Property Group in a report on Thursday, November 2nd. Argus reduced their target price on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Finally, Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. 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. Simon Property Group has a consensus rating of “Buy” and an average price target of $191.11.

Shares of Simon Property Group Inc (NYSE SPG) opened at $164.24 on Friday. The company has a market capitalization of $52,550.00, a PE ratio of 29.02, a PEG ratio of 2.09 and a beta of 0.62. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group Inc has a 1 year low of $150.15 and a 1 year high of $187.35.

Simon Property Group (NYSE:SPG) last released 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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. Simon Property Group’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 earnings per share. research analysts forecast that Simon Property Group Inc will post 11.21 EPS for the current year.

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

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