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.
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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