Garland Capital Management Inc. Has $3.31 Million Stock Holdings in Simon Property Group Inc (NYSE:SPG)

Garland Capital Management Inc. lessened its holdings in Simon Property Group Inc (NYSE:SPG) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,265 shares of the real estate investment trust’s stock after selling 160 shares during the period. Simon Property Group comprises approximately 2.4% of Garland Capital Management Inc.’s portfolio, making the stock its 27th biggest position. Garland Capital Management Inc.’s holdings in Simon Property Group were worth $3,310,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SPG. Nuveen Asset Management LLC boosted its position in shares of Simon Property Group by 140.0% in the second quarter. Nuveen Asset Management LLC now owns 3,940,308 shares of the real estate investment trust’s stock worth $629,504,000 after buying an additional 2,298,343 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Simon Property Group by 95.1% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,617,134 shares of the real estate investment trust’s stock worth $776,782,000 after buying an additional 788,111 shares during the period. Schroder Investment Management Group boosted its position in shares of Simon Property Group by 471.3% in the second quarter. Schroder Investment Management Group now owns 725,791 shares of the real estate investment trust’s stock worth $115,953,000 after buying an additional 598,745 shares during the period. Renaissance Technologies LLC boosted its position in shares of Simon Property Group by 612.3% in the second quarter. Renaissance Technologies LLC now owns 670,305 shares of the real estate investment trust’s stock worth $107,088,000 after buying an additional 576,200 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Simon Property Group by 21.5% in the second quarter. California Public Employees Retirement System now owns 2,041,428 shares of the real estate investment trust’s stock worth $326,139,000 after buying an additional 361,890 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:SPG traded up $1.17 during midday trading on Thursday, hitting $147.15. 78,177 shares of the stock were exchanged, compared to its average volume of 1,609,349. The company has a debt-to-equity ratio of 7.02, a quick ratio of 0.99 and a current ratio of 0.99. Simon Property Group Inc has a 52-week low of $145.28 and a 52-week high of $191.49. The business’s fifty day simple moving average is $151.56 and its two-hundred day simple moving average is $163.95. The company has a market capitalization of $45.65 billion, a PE ratio of 12.13, a P/E/G ratio of 2.75 and a beta of 0.54.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.01. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $2.98 earnings per share. Simon Property Group’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that Simon Property Group Inc will post 12.28 EPS for the current year.

Several analysts recently issued reports on the company. Morgan Stanley cut their price objective on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. ValuEngine lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. SunTrust Banks cut their price objective on Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Finally, Citigroup lowered Simon Property Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $187.00 to $170.00 in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $184.27.

Simon Property Group 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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