Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,236 shares of the real estate investment trust’s stock after acquiring an additional 93 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Simon Property Group were worth $385,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Simon Property Group during the second quarter worth $364,000. Algert Global LLC boosted its position in shares of Simon Property Group by 38.0% during the 2nd quarter. Algert Global LLC now owns 2,805 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 772 shares during the last quarter. Czech National Bank grew its holdings in shares of Simon Property Group by 0.5% in the third quarter. Czech National Bank now owns 62,431 shares of the real estate investment trust’s stock valued at $10,552,000 after purchasing an additional 321 shares during the period. GAMMA Investing LLC raised its stake in Simon Property Group by 23.3% during the third quarter. GAMMA Investing LLC now owns 4,701 shares of the real estate investment trust’s stock worth $795,000 after purchasing an additional 889 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Simon Property Group by 48.2% in the 3rd quarter. Diversified Trust Co now owns 10,479 shares of the real estate investment trust’s stock valued at $1,771,000 after buying an additional 3,410 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Simon Property Group Stock Down 0.2 %

Simon Property Group stock opened at $173.47 on Tuesday. The firm has a market capitalization of $56.60 billion, a P/E ratio of 23.10, a P/E/G ratio of 9.31 and a beta of 1.74. The stock’s fifty day simple moving average is $176.08 and its 200-day simple moving average is $169.77. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $3.20 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect 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.