1,273 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Longboard Asset Management LP

Longboard Asset Management LP purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,273 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group in the third quarter valued at about $834,000. First Hawaiian Bank boosted its holdings in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC grew its stake in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after purchasing an additional 10,644 shares during the period. TTP Investments Inc. grew its stake in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after purchasing an additional 10,147 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $173.47 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $56.60 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 9.31 and a beta of 1.74. The firm’s 50 day moving average is $176.08 and its 200-day moving average is $169.77. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $3.20 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of a number of analyst reports. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.