Simon Property Group Inc (SPG) Stake Lifted by Ingalls & Snyder LLC

Ingalls & Snyder LLC lifted its holdings in Simon Property Group Inc (NYSE:SPG) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,748 shares of the real estate investment trust’s stock after purchasing an additional 1,541 shares during the quarter. Ingalls & Snyder LLC’s holdings in Simon Property Group were worth $5,238,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $25,000. Community Bank N.A. bought a new position in shares of Simon Property Group in the fourth quarter worth $28,000. Lindbrook Capital LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $35,000. Legacy Advisors LLC bought a new position in Simon Property Group during the first quarter valued at about $36,000. Finally, Sontag Advisory LLC bought a new position in Simon Property Group during the fourth quarter valued at about $37,000. 96.71% of the stock is owned by institutional investors.

SPG stock traded down $0.72 during trading hours on Thursday, hitting $184.21. 845,422 shares of the stock traded hands, compared to its average volume of 1,405,527. Simon Property Group Inc has a one year low of $145.78 and a one year high of $191.49. The stock has a market capitalization of $57.14 billion, a P/E ratio of 15.19, a P/E/G ratio of 3.08 and a beta of 0.57. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 6.21.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, February 1st. The real estate investment trust reported $3.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.24 by ($0.01). Simon Property Group had a net margin of 43.11% and a return on equity of 63.21%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business earned $1.84 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Simon Property Group Inc will post 12.41 earnings per share for the current year.

Simon Property Group declared that its board has authorized a share buyback plan on Tuesday, February 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Several research analysts recently weighed in on SPG shares. BMO Capital Markets reaffirmed a “buy” rating and set a $191.00 target price on shares of Simon Property Group in a research note on Friday, February 1st. Wells Fargo & Co cut Simon Property Group from an “overweight” rating to a “market weight” rating in a research note on Friday, February 8th. Finally, Mizuho cut Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 target price for the company. in a research note on Friday, February 15th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $194.67.

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Simon Property Group Company Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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

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