Simon Property Group, Inc. $SPG Holdings Raised by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 45.4% in the 2nd quarter, Holdings Channel reports. The firm owned 14,769 shares of the real estate investment trust’s stock after acquiring an additional 4,611 shares during the quarter. iA Global Asset Management Inc.’s holdings in Simon Property Group were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC grew its holdings in shares of Simon Property Group by 0.5% during the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after purchasing an additional 66 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 68 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Simon Property Group by 1.0% during the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 68 shares during the last quarter. PFS Partners LLC grew its holdings in shares of Simon Property Group by 13.6% during the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 68 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of Simon Property Group by 1.6% during the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock valued at $743,000 after purchasing an additional 70 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Up 0.6%

Shares of SPG stock opened at $176.83 on Tuesday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The stock has a fifty day moving average of $180.20 and a two-hundred day moving average of $168.85. The firm has a market capitalization of $57.73 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.90 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on SPG shares. Evercore ISI upped their target price on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a report on Tuesday, September 2nd. JPMorgan Chase & Co. upped their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Truist Financial increased their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $187.31.

Insider Activity

In other news, Director Larry C. Glasscock purchased 351 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,163 shares of company stock worth $401,605 in the last quarter. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Profile

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.