Winslow Asset Management Inc. Acquires 400 Shares of Simon Property Group Inc (SPG)
Winslow Asset Management Inc. lifted its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,298 shares of the real estate investment trust’s stock after buying an additional 400 shares during the quarter. Winslow Asset Management Inc.’s holdings in Simon Property Group were worth $8,638,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Thrivent Financial For Lutherans lifted its stake in shares of Simon Property Group by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock valued at $28,021,000 after buying an additional 2,530 shares in the last quarter. Koch Industries Inc. bought a new stake in Simon Property Group during the 2nd quarter worth approximately $456,000. Artisan Partners Limited Partnership bought a new stake in Simon Property Group during the 3rd quarter worth approximately $41,999,000. Profund Advisors LLC increased its holdings in Simon Property Group by 17.8% during the 2nd quarter. Profund Advisors LLC now owns 19,657 shares of the real estate investment trust’s stock worth $3,180,000 after acquiring an additional 2,977 shares during the period. Finally, Milestone Group Inc. increased its holdings in Simon Property Group by 75.1% during the 3rd quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock worth $375,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 47.38% of the company’s stock.
In other news, SVP Steven K. Broadwater sold 621 shares of the stock in a transaction on Friday, December 29th. The shares were 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 hyperlink. 8.42% of the stock is owned by corporate insiders.
SPG has been the topic of a number of analyst reports. BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a 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 report on Monday, October 30th. Argus decreased their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a report on Wednesday, October 11th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $176.00 target price on shares of Simon Property Group in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $191.11.
Shares of Simon Property Group Inc (NYSE:SPG) traded down $0.55 during trading hours on Thursday, hitting $164.98. 1,339,500 shares of the stock were exchanged, compared to its average volume of 1,787,600. The company has a market cap of $52,740.00, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. Simon Property Group Inc has a 1 year low of $150.15 and a 1 year high of $187.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57.
Simon Property Group (NYSE:SPG) last issued 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 firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 EPS. research analysts forecast that Simon Property Group Inc will post 11.21 earnings per share for the current fiscal year.
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Simon Property Group 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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