Heitman Real Estate Securities Lowers stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : Heitman Real Estate Securities reduced its stake in Simon Property Group Inc by 23.21% during the most recent quarter end. The investment management company now holds a total of 495,993 shares of Simon Property Group Inc which is valued at $92,051,341 after selling 149,884 shares in Simon Property Group Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Simon Property Group Inc makes up approximately 5.62% of Heitman Real Estate Securities’s portfolio.

Other Hedge Funds, Including , Lazard Asset Management reduced its stake in SPG by selling 141,743 shares or 73.64% in the most recent quarter. The Hedge Fund company now holds 50,748 shares of SPG which is valued at $9,418,321. Simon Property Group Inc makes up approx 0.02% of Lazard Asset Management’s portfolio.Bailard boosted its stake in SPG in the latest quarter, The investment management firm added 97 additional shares and now holds a total of 1,433 shares of Simon Property Group Inc which is valued at $259,058. Simon Property Group Inc makes up approx 0.02% of Bailard’s portfolio.Retirement Systems Of Alabama boosted its stake in SPG in the latest quarter, The investment management firm added 1,186 additional shares and now holds a total of 158,926 shares of Simon Property Group Inc which is valued at $28,651,179. Simon Property Group Inc makes up approx 0.17% of Retirement Systems Of Alabama’s portfolio.

Simon Property Group Inc opened for trading at $180.56 and hit $181.75 on the upside on Monday, eventually ending the session at $180.83, with a gain of 0.08% or 0.15 points. The heightened volatility saw the trading volume jump to 13,69,326 shares. Company has a market cap of $56,824 M.

On the company’s financial health, Simon Property Group Inc reported $2.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $2.68. The company had revenue of $1357.20 million for the quarter, compared to analysts expectations of $1365.16 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS.

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.

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