Acadian Asset Management LLC Takes Position in Simon Property Group Inc (NYSE:SPG)

Acadian Asset Management LLC bought a new position in shares of Simon Property Group Inc (NYSE:SPG) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,591 shares of the real estate investment trust’s stock, valued at approximately $1,019,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC increased its stake in shares of Simon Property Group by 150.0% in the first quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 99 shares during the period. Lindbrook Capital LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $35,000. Legacy Advisors LLC bought a new position in shares of Simon Property Group in the first quarter worth about $36,000. Finally, Sontag Advisory LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $37,000. 95.60% of the stock is currently owned by institutional investors.

Shares of NYSE:SPG traded down $1.12 during trading on Monday, reaching $158.64. The company had a trading volume of 1,531,804 shares, compared to its average volume of 1,412,337. The company has a fifty day moving average price of $166.99. The stock has a market cap of $49.57 billion, a PE ratio of 13.08, a P/E/G ratio of 2.90 and a beta of 0.52. Simon Property Group Inc has a 12 month low of $157.84 and a 12 month high of $191.49. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.02. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business earned $2.00 EPS. Simon Property Group’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Simon Property Group Inc will post 12.38 EPS for the current year.

In related news, insider John Rulli sold 9,160 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total value of $1,613,717.20. Following the transaction, the insider now owns 29,646 shares in the company, valued at approximately $5,222,735.82. The sale was disclosed in a filing with the SEC, which is available through this link. 8.75% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on SPG. Deutsche Bank reduced their target price on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. Barclays restated a “buy” rating and set a $202.00 price target on shares of Simon Property Group in a research note on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research note on Monday, June 3rd. Morgan Stanley dropped their price target on shares of Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Finally, Citigroup dropped their price target on shares of Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Simon Property Group currently has a consensus rating of “Buy” and a consensus target price of $190.33.

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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