World Investment Advisors Sells 550 Shares of Simon Property Group, Inc. $SPG

World Investment Advisors cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,357 shares of the real estate investment trust’s stock after selling 550 shares during the quarter. World Investment Advisors’ holdings in Simon Property Group were worth $700,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new position in shares of Simon Property Group during the second quarter worth approximately $25,000. Park Square Financial Group LLC increased its stake in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. increased its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. WPG Advisers LLC bought a new position in Simon Property Group in the first quarter valued at approximately $47,000. Finally, TCTC Holdings LLC increased its stake in Simon Property Group by 93.5% in the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 186 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Barclays lifted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $187.31.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $175.95 on Monday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $57.45 billion, a P/E ratio of 27.19, a P/E/G ratio of 12.73 and a beta of 1.50. The company’s 50 day moving average price is $180.19 and its two-hundred day moving average price is $168.67.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $2.90 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the acquisition, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel C. Smith purchased 335 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the acquisition, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 2,163 shares of company stock valued at $401,605 in the last quarter. Insiders own 8.66% of the company’s stock.

Simon Property Group Company 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.