Adams Asset Advisors LLC Increases Stake in Simon Property Group Inc (SPG)

Adams Asset Advisors LLC lifted its stake in shares of Simon Property Group Inc (NYSE:SPG) by 85.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,561 shares of the real estate investment trust’s stock after purchasing an additional 3,480 shares during the quarter. Adams Asset Advisors LLC’s holdings in Simon Property Group were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in SPG. Parallel Advisors LLC raised its position in shares of Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 317 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 7 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Simon Property Group by 791.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 4,843 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $204,000. Finally, Probity Advisors Inc. acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $211,000. Institutional investors and hedge funds own 47.38% of the company’s stock.

Shares of Simon Property Group Inc (NYSE SPG) traded down $0.15 during midday trading on Thursday, reaching $164.83. The company’s stock had a trading volume of 1,465,720 shares, compared to its average volume of 1,750,975. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. The company has a market cap of $52,740.00, a price-to-earnings ratio of 29.12, a P/E/G ratio of 2.10 and a beta of 0.62. Simon Property Group Inc has a 52-week low of $150.15 and a 52-week high of $187.35.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $2.70 EPS. analysts predict that Simon Property Group Inc will post 11.21 EPS for the current year.

A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James Financial set a $185.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, December 3rd. Mizuho set a $183.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, October 29th. BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $191.11.

In other Simon Property Group news, SVP Steven K. Broadwater sold 621 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.42% of the company’s stock.

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Simon Property Group Company Profile

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.

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

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