ClariVest Asset Management LLC Sells 15,971 Shares of Simon Property Group Inc (NYSE:SPG)

ClariVest Asset Management LLC decreased its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,163 shares of the real estate investment trust’s stock after selling 15,971 shares during the quarter. Simon Property Group comprises about 0.9% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. ClariVest Asset Management LLC owned about 0.08% of Simon Property Group worth $42,303,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SPG. Capital Investment Advisory Services LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at $25,000. Global Retirement Partners LLC boosted its holdings in 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 in the last quarter. Lindbrook Capital LLC bought a new stake in Simon Property Group in the fourth quarter worth $35,000. Legacy Advisors LLC bought a new stake in Simon Property Group in the first quarter worth $36,000. Finally, Sontag Advisory LLC bought a new stake in Simon Property Group in the fourth quarter worth $37,000. Institutional investors and hedge funds own 95.60% of the company’s stock.

Shares of NYSE:SPG traded down $1.12 during midday trading on Monday, hitting $158.64. The stock had a trading volume of 1,531,804 shares, compared to its average volume of 1,412,337. The company has a market capitalization of $49.57 billion, a P/E ratio of 13.08, a P/E/G ratio of 2.90 and a beta of 0.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34. The stock has a 50-day moving average price of $166.06. Simon Property Group Inc has a fifty-two week low of $157.84 and a fifty-two week high of $191.49.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm posted $2.00 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Simon Property Group Inc will post 12.38 earnings per share for the current fiscal year.

In other Simon Property Group news, insider John Rulli sold 9,160 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the transaction, the insider now owns 29,646 shares in the company, valued at $5,222,735.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.75% of the stock is owned by insiders.

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

Simon Property Group 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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