Simon Property Group Inc (SPG) : Patriot Wealth Management added new position in Simon Property Group Inc during the most recent quarter end. The investment management firm now holds 25,730 shares of Simon Property Group Inc which is valued at $5,704,341 , the company said in a statement filed on Jul 26, 2016 with the SEC.Simon Property Group Inc makes up approximately 1.09% of Patriot Wealth Management’s portfolio.
Other Hedge Funds, Including , Boston Advisors sold out all of its stake in SPG during the most recent quarter. The investment firm sold 38,766 shares of SPG which is valued $8,594,422.Louisiana State Employees Retirement System reduced its stake in SPG by selling 400 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 20,300 shares of SPG which is valued at $4,500,510. Simon Property Group Inc makes up approx 0.23% of Louisiana State Employees Retirement System’s portfolio.Parkwood reduced its stake in SPG by selling 396 shares or 13.75% in the most recent quarter. The Hedge Fund company now holds 2,483 shares of SPG which is valued at $559,420. Simon Property Group Inc makes up approx 0.09% of Parkwood’s portfolio.1st Global Advisors boosted its stake in SPG in the latest quarter, The investment management firm added 286 additional shares and now holds a total of 15,182 shares of Simon Property Group Inc which is valued at $3,420,505. Simon Property Group Inc makes up approx 0.46% of 1st Global Advisors’s portfolio.
Simon Property Group Inc opened for trading at $223.93 and hit $229.1 on the upside on Friday, eventually ending the session at $227.04, with a gain of 1.33% or 2.97 points. The heightened volatility saw the trading volume jump to 12,60,546 shares. Company has a market cap of $70,250 M.
On the company’s financial health, Simon Property Group Inc reported $2.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.62. The company had revenue of $1315.38 million for the quarter, compared to analysts expectations of $1347.01 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.41 EPS.
Many Wall Street Analysts have commented on Simon Property Group Inc. Company shares were Reiterated by Stifel on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 240 from a previous price target of $232 .
Simon Property Group Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group L.P. (Operating Partnership) is the Company’s majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns develops and manages retail real estate properties which consist primarily of malls Premium Outlets and The Mills. As of December 31 2014 the Company owned or held an interest in 207 properties in the United States which consisted of 109 malls 68 Premium Outlets 13 Mills three community centers and 14 other retail properties in 37 states and Puerto Rico. As of December 31 2014 the Company had ownership interests in nine Premium Outlets in Japan three Premium Outlets in South Korea two Premium Outlets in Canada one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31 2014 the Company had non-controlling ownership interests in five outlet properties in Europe.