Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250 shares of the real estate investment trust’s stock after selling 250 shares during the period. Princeton Global Asset Management LLC’s holdings in Simon Property Group were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the third quarter worth $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group during the fourth quarter worth $41,000. Eastern Bank acquired a new position in Simon Property Group during the third quarter worth $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group during the third quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Simon Property Group by 107.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 214 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.2 %

Shares of SPG opened at $173.47 on Tuesday. 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, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The firm has a 50-day moving average price of $176.08 and a 200 day moving average price of $169.77. 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.

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 analysts’ consensus estimates 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $3.20 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Simon Property Group

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

Simon Property Group Profile

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.