Bank of Montreal Can Decreases Stake in Simon Property Group, Inc. $SPG

Bank of Montreal Can lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 640,760 shares of the real estate investment trust’s stock after selling 8,004 shares during the quarter. Bank of Montreal Can owned about 0.20% of Simon Property Group worth $103,009,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SPG. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group during the 2nd quarter valued at about $25,000. Park Square Financial Group LLC boosted its position in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. boosted its position in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at about $47,000. Finally, TCTC Holdings LLC boosted its position in shares of Simon Property Group by 93.5% during the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $176.83 on Tuesday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The business’s 50 day simple moving average is $180.20 and its two-hundred day simple moving average is $168.85. The stock has a market capitalization of $57.73 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SPG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Argus restated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Morgan Stanley boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, Evercore ISI boosted their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.31.

Insiders Place Their Bets

In related news, Director Glyn Aeppel purchased 208 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $38,677.60. Following the purchase, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock purchased 351 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the purchase, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 2,163 shares of company stock worth $401,605. 8.66% of the stock is currently owned by corporate insiders.

About Simon Property Group

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.