Synergy Asset Management LLC Takes $41,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Synergy Asset Management LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, Holdings Channel.com reports. The firm acquired 242 shares of the real estate investment trust’s stock, valued at approximately $41,000.

A number of other institutional investors have also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the 3rd quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC purchased a new position in Simon Property Group in the 3rd quarter valued at approximately $42,000. Eastern Bank acquired a new position in Simon Property Group during the third quarter worth $42,000. Ashton Thomas Securities LLC acquired a new stake in Simon Property Group in the third quarter valued at $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SPG shares. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Trading Down 1.2 %

Shares of SPG opened at $173.75 on Friday. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The stock has a fifty day moving average of $176.23 and a two-hundred day moving average of $169.38. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $56.69 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 9.30 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

About Simon Property Group

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.