Winslow Asset Management Inc. Lowers Stake in Simon Property Group Inc (SPG)

Winslow Asset Management Inc. reduced its position in shares of Simon Property Group Inc (NYSE:SPG) by 1.1% in the third quarter, Holdings Channel reports. The fund owned 50,350 shares of the real estate investment trust’s stock after selling 565 shares during the quarter. Simon Property Group makes up about 1.6% of Winslow Asset Management Inc.’s portfolio, making the stock its 28th biggest position. Winslow Asset Management Inc.’s holdings in Simon Property Group were worth $8,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC boosted its position in shares of Simon Property Group by 2.5% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 11,601 shares of the real estate investment trust’s stock valued at $1,974,000 after acquiring an additional 285 shares during the last quarter. Garland Capital Management Inc. boosted its position in shares of Simon Property Group by 1.5% during the 2nd quarter. Garland Capital Management Inc. now owns 21,690 shares of the real estate investment trust’s stock valued at $3,691,000 after acquiring an additional 320 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Simon Property Group by 2.0% during the 2nd quarter. Alps Advisors Inc. now owns 16,519 shares of the real estate investment trust’s stock valued at $2,837,000 after acquiring an additional 320 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of Simon Property Group by 3.2% during the 2nd quarter. Bogart Wealth LLC now owns 11,163 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 341 shares during the last quarter. Finally, Boenning & Scattergood Inc. boosted its position in shares of Simon Property Group by 5.2% during the 3rd quarter. Boenning & Scattergood Inc. now owns 6,913 shares of the real estate investment trust’s stock valued at $1,222,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

NYSE:SPG traded up $0.42 during midday trading on Thursday, hitting $173.17. 57,054 shares of the company traded hands, compared to its average volume of 1,636,588. Simon Property Group Inc has a 12-month low of $145.78 and a 12-month high of $186.03. The firm has a market capitalization of $56.62 billion, a PE ratio of 15.50, a PEG ratio of 2.43 and a beta of 0.53. The company has a debt-to-equity ratio of 6.13, a quick ratio of 1.13 and a current ratio of 1.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.13. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. Simon Property Group’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Simon Property Group Inc will post 12.12 EPS for the current year.

In related news, insider John Rulli sold 1,330 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $177.05, for a total transaction of $235,476.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.64% of the company’s stock.

A number of research firms have recently commented on SPG. Bank of America increased their target price on Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Royal Bank of Canada increased their target price on Simon Property Group to $183.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 21st. Mizuho reiterated a “buy” rating and set a $188.00 target price on shares of Simon Property Group in a research report on Wednesday, August 1st. Argus increased their target price on Simon Property Group to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 11th. Finally, Wells Fargo & Co increased their price target on Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Simon Property Group currently has an average rating of “Buy” and an average price target of $192.31.

About Simon Property Group

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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