Lederer & Associates Investment Counsel CA Sells 108 Shares of Simon Property Group, Inc. (NYSE:SPG)

Lederer & Associates Investment Counsel CA reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,899 shares of the real estate investment trust’s stock after selling 108 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Simon Property Group were worth $499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SPG. Wilmington Savings Fund Society FSB bought a new stake in shares of Simon Property Group during the third quarter valued at approximately $834,000. First Hawaiian Bank boosted its holdings in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC boosted its holdings in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares during the last quarter. TTP Investments Inc. boosted its holdings in Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SPG shares. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. 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 target price on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.10.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Shares of SPG opened at $173.75 on Monday. The company has a 50 day moving average price of $176.08 and a 200-day moving average price of $169.67. 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 market capitalization of $56.69 billion, a PE ratio of 23.14, a PEG ratio of 9.31 and a beta of 1.74. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company posted $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

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.