Ameritas Investment Partners Inc. Reduces Position in Simon Property Group, Inc. (SPG)

Ameritas Investment Partners Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,701 shares of the real estate investment trust’s stock after selling 516 shares during the period. Ameritas Investment Partners Inc.’s holdings in Simon Property Group were worth $2,216,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norway Savings Bank lifted its stake in Simon Property Group by 19.5% in the 2nd quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Simon Property Group by 27.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 169 shares during the last quarter. Israel Discount Bank of New York bought a new position in Simon Property Group in the 1st quarter valued at approximately $146,000. Alpha Windward LLC lifted its stake in Simon Property Group by 12.2% in the 2nd quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 93 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its stake in Simon Property Group by 5.3% in the 1st quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 46 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Simon Property Group, Inc. (NYSE SPG) traded up 1.547% during midday trading on Friday, hitting $167.085. 299,274 shares of the stock traded hands. The company has a market capitalization of $51.94 billion, a price-to-earnings ratio of 29.778 and a beta of 0.60. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $199.85. The stock’s 50-day moving average price is $160.09 and its 200 day moving average price is $161.55.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $2.63 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Simon Property Group, Inc. will post $6.35 EPS for the current year.

Several brokerages recently commented on SPG. Stifel Nicolaus reissued a “hold” rating and issued a $170.00 price objective on shares of Simon Property Group in a research note on Thursday. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC increased their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Argus dropped their price objective on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, June 29th. Finally, Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $193.07.

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About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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