Simon Property Group Inc (SPG) : Wesley Capital Management scooped up 2,600 additional shares in Simon Property Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 8,500 shares of Simon Property Group Inc which is valued at $1,869,745.Simon Property Group Inc makes up approximately 2.03% of Wesley Capital Management’s portfolio.
Other Hedge Funds, Including , Brown Advisory Inc boosted its stake in SPG in the latest quarter, The investment management firm added 329 additional shares and now holds a total of 4,778 shares of Simon Property Group Inc which is valued at $1,051,017.Cordasco Financial Network reduced its stake in SPG by selling 365 shares or 12.46% in the most recent quarter. The Hedge Fund company now holds 2,565 shares of SPG which is valued at $568,661. Simon Property Group Inc makes up approx 0.64% of Cordasco Financial Network’s portfolio.State Of Alaska Department Of Revenue reduced its stake in SPG by selling 11,640 shares or 8.74% in the most recent quarter. The Hedge Fund company now holds 121,551 shares of SPG which is valued at $27,135,045. Simon Property Group Inc makes up approx 2.78% of State Of Alaska Department Of Revenue’s portfolio.
Simon Property Group Inc opened for trading at $211.57 and hit $214.49 on the upside on Wednesday, eventually ending the session at $213.97, with a gain of 1.13% or 2.4 points. The heightened volatility saw the trading volume jump to 11,28,861 shares. Company has a market cap of $67,236 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 Canaccord Genuity on Aug 16, 2016 to “Buy”, Firm has raised the Price Target to $ 250 from a previous price target of $235 .Mizuho Downgraded Simon Property Group Inc on Aug 3, 2016 to ” Neutral”, Price Target of the shares are set at $238.Company shares were Downgraded by RBC Capital Mkts on Aug 2, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 230 from a previous price target of $220 .
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.