Harvest Fund Management Co. Ltd lessened its holdings in Simon Property Group Inc (NYSE:SPG) by 70.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 640 shares of the real estate investment trust’s stock after selling 1,538 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Simon Property Group were worth $102,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ashburton Jersey Ltd purchased a new stake in shares of Simon Property Group in the second quarter worth $25,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Simon Property Group in the second quarter worth $30,000. Marino Stram & Associates LLC purchased a new stake in shares of Simon Property Group in the first quarter worth $32,000. Weaver Consulting Group purchased a new stake in shares of Simon Property Group in the second quarter worth $32,000. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Simon Property Group by 59.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 259 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 97 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.
Shares of NYSE:SPG traded down $0.89 on Monday, reaching $157.07. 349,025 shares of the company traded hands, compared to its average volume of 1,413,824. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.02. The stock has a market capitalization of $48.65 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. Simon Property Group Inc has a 52 week low of $145.42 and a 52 week high of $191.49. The business’s 50-day simple moving average is $151.82 and its 200 day simple moving average is $165.48.
Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. Simon Property Group’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $2.98 earnings per share. Sell-side analysts expect that Simon Property Group Inc will post 12.28 EPS for the current fiscal year.
A number of brokerages recently issued reports on SPG. SunTrust Banks lowered their price objective on Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Citigroup downgraded Simon Property Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $187.00 to $170.00 in a research report on Monday, September 23rd. ValuEngine downgraded Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Morgan Stanley lowered their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Deutsche Bank lowered their price target on Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $185.33.
Simon Property Group Company 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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