LGT Capital Partners LTD. Reduces Position in Simon Property Group Inc (SPG)

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LGT Capital Partners LTD. decreased its holdings in Simon Property Group Inc (NYSE:SPG) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,313 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. LGT Capital Partners LTD.’s holdings in Simon Property Group were worth $5,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Advisors Inc. lifted its holdings in Simon Property Group by 22.6% during the third quarter. Cornerstone Advisors Inc. now owns 369 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 68 shares in the last quarter. Capital Bank & Trust Co purchased a new position in Simon Property Group during the third quarter valued at approximately $136,000. Honkamp Krueger Financial Services Inc. purchased a new position in Simon Property Group during the third quarter valued at approximately $154,000. TRUE Private Wealth Advisors purchased a new position in Simon Property Group during the third quarter valued at approximately $156,000. Finally, Capital Guardian Trust Co. purchased a new position in Simon Property Group during the third quarter valued at approximately $184,000. 92.79% of the stock is currently owned by institutional investors.

SPG has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 price objective on the stock in a research report on Thursday, October 4th. Citigroup lifted their price objective on shares of Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Argus lifted their price objective on shares of Simon Property Group to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 11th. Deutsche Bank set a $191.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research report on Friday, November 30th. Finally, Morgan Stanley set a $180.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research report on Tuesday, November 27th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $193.27.

NYSE SPG traded down $0.94 on Monday, hitting $171.42. 183,766 shares of the stock were exchanged, compared to its average volume of 1,412,300. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.14. The firm has a market capitalization of $55.57 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 2.36 and a beta of 0.53. Simon Property Group Inc has a 52-week low of $145.78 and a 52-week high of $191.49.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, topping the consensus estimate of $1.73 by $0.07. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Equities research analysts anticipate that Simon Property Group Inc will post 12.13 EPS for the current year.

In other Simon Property Group news, insider John Rulli sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total value of $1,119,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.64% of the stock is owned by corporate insiders.

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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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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