November 25, 2016 - By Clifton Ray · 0 Comments
Simon Property Group Inc (NYSE:SPG) institutional sentiment decreased to 1 in Q2 2016. Its down -0.28, from 1.28 in 2016Q1. The ratio has dropped, as 294 institutional investors increased or started new equity positions, while 230 sold and decreased stock positions in Simon Property Group Inc. The institutional investors in our partner’s database now own: 304.68 million shares, down from 321.56 million shares in 2016Q1. Also, the number of institutional investors holding Simon Property Group Inc in their top 10 equity positions increased from 39 to 41 for an increase of 2. Sold All: 41 Reduced: 189 Increased: 236 New Position: 58.
Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $56.89 billion. The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. It has a 30.92 P/E ratio. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
About 140,789 shares traded hands. Simon Property Group Inc (NYSE:SPG) has declined 10.58% since April 22, 2016 and is downtrending. It has underperformed by 15.99% the S&P500.
Analysts await Simon Property Group Inc (NYSE:SPG) to report earnings on February, 3. They expect $2.89 EPS, up 5.86% or $0.16 from last year’s $2.73 per share. SPG’s profit will be $904.01 million for 15.73 P/E if the $2.89 EPS becomes a reality. After $2.70 actual EPS reported by Simon Property Group Inc for the previous quarter, Wall Street now forecasts 7.04% EPS growth.
According to Zacks Investment Research, “Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers. (Company Press Release)”
Athena Capital Advisors Llc holds 29.18% of its portfolio in Simon Property Group Inc for 411,001 shares. Resolution Capital Ltd owns 1.04 million shares or 14.86% of their US portfolio. Moreover, Lasalle Investment Management Securities Llc has 13.74% invested in the company for 6.73 million shares. The California-based Adelante Capital Management Llc has invested 12.46% in the stock. Apg Asset Management Us Inc., a New York-based fund reported 6.94 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 2 selling transactions for $1.71 million net activity.
Ratings analysis reveals 91% of Simon Property Group’s analysts are positive. Out of 11 Wall Street analysts rating Simon Property Group, 10 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $198 while the high is $266. The stock’s average target of $232.21 is 27.68% above today’s ($181.87) share price. SPG was included in 29 notes of analysts from July 21, 2015. On Tuesday, July 28 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Simon Property Group Inc (NYSE:SPG) has “Buy” rating given on Wednesday, October 28 by Stifel Nicolaus. The rating was maintained by RBC Capital Markets on Tuesday, February 2 with “Outperform”. The stock has “Buy” rating given by Evercore on Tuesday, September 8. The stock of Simon Property Group Inc (NYSE:SPG) earned “Buy” rating by Stifel Nicolaus on Monday, March 21. Citigroup maintained Simon Property Group Inc (NYSE:SPG) on Friday, April 1 with “Buy” rating. The company was maintained on Wednesday, August 5 by Barclays Capital. As per Friday, November 13, the company rating was maintained by Argus Research. The rating was initiated by Canaccord Genuity with “Buy” on Wednesday, July 22. The stock has “Overweight” rating given by Barclays Capital on Tuesday, July 19.
Simon Property Group, Inc., incorporated on March 10, 1998, is a self-administered and self-managed real estate investment trust (REIT). The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets. The Firm owns an interest in approximately 210 income-producing properties in the United States, which consists of approximately 110 malls, 70 Premium Outlets, 15 Mills and 12 other retail properties in over 40 states and Puerto Rico. The Firm also owns The Mills at Jersey Gardens in Elizabeth, New Jersey, and University Park Village in Fort Worth, Texas.
More notable recent Simon Property Group Inc (NYSE:SPG) news were published by: Wsj.com which released: “Simon Property Group Raises Profit Outlook on Improved Occupancy, Rents” on October 26, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Summit Hotel Properties, Simon Property Group and AFLAC” published on November 10, 2016, Forbes.com published: “Simon Property Group is Oversold” on October 26, 2016. More interesting news about Simon Property Group Inc (NYSE:SPG) were released by: Prnewswire.com and their article: “Simon Property Group Sells $1.85 Billion Of Multi-Tranche Senior Notes” published on November 15, 2016 as well as Nasdaq.com‘s news article titled: “Simon Property Group, Inc. (SPG) Ex-Dividend Date Scheduled for November 14, 2016” with publication date: November 11, 2016.
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By Clifton Ray