Nelson Van Denburg & Campbell Wealth Management Group LLC Cuts Position in Simon Property Group Inc (NYSE:SPG)

Nelson Van Denburg & Campbell Wealth Management Group LLC trimmed its position in shares of Simon Property Group Inc (NYSE:SPG) by 10.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 658 shares of the real estate investment trust’s stock after selling 76 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Simon Property Group were worth $102,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashburton Jersey Ltd acquired a new stake in Simon Property Group in the second quarter valued at $25,000. Griffin Asset Management Inc. acquired a new position in shares of Simon Property Group during the 2nd quarter worth $26,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth $30,000. Weaver Consulting Group acquired a new position in shares of Simon Property Group during the 2nd quarter worth $32,000. Finally, Ellevest Inc. acquired a new position in shares of Simon Property Group during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Simon Property Group stock opened at $148.60 on Friday. The stock has a market cap of $44.96 billion, a PE ratio of 11.86, a P/E/G ratio of 2.71 and a beta of 0.54. The stock has a 50-day moving average price of $151.60 and a 200 day moving average price of $163.66. Simon Property Group Inc has a 52 week low of $145.28 and a 52 week high of $191.49. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.02.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.98 EPS. On average, equities analysts predict that Simon Property Group Inc will post 12.28 EPS for the current year.

SPG has been the subject of several research reports. Citigroup downgraded Simon Property Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $187.00 to $170.00 in a research note on Monday, September 23rd. SunTrust Banks cut their price target on Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Morgan Stanley cut their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. Finally, ValuEngine downgraded Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $182.70.

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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