Wealthfront Advisers LLC Cuts Stake in Simon Property Group Inc (NYSE:SPG)

Wealthfront Advisers LLC lowered its stake in shares of Simon Property Group Inc (NYSE:SPG) by 28.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,013 shares of the real estate investment trust’s stock after selling 5,245 shares during the period. Wealthfront Advisers LLC’s holdings in Simon Property Group were worth $2,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ashburton Jersey Ltd purchased a new stake in shares of Simon Property Group during the second quarter worth about $25,000. Griffin Asset Management Inc. acquired a new position in Simon Property Group during the second quarter worth about $26,000. Stonebridge Capital Advisors LLC acquired a new position in Simon Property Group during the second quarter worth about $30,000. Weaver Consulting Group acquired a new position in Simon Property Group during the second quarter worth about $32,000. Finally, Creative Financial Designs Inc. ADV boosted its position in Simon Property Group by 59.9% during the second quarter. Creative Financial Designs Inc. ADV now owns 259 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 97 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

NYSE:SPG opened at $148.72 on Thursday. The company has a debt-to-equity ratio of 7.02, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $45.79 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.76 and a beta of 0.54. The company’s 50-day moving average is $151.76 and its two-hundred day moving average is $162.86. Simon Property Group Inc has a 1-year low of $145.28 and a 1-year high of $191.49.

Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. Simon Property Group’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $2.98 EPS. As a group, equities analysts anticipate that Simon Property Group Inc will post 12.23 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Barclays set a $218.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 11th. Morgan Stanley lowered their price target on shares of Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Citigroup lowered shares of Simon Property Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $187.00 to $170.00 in a research report on Monday, September 23rd. ValuEngine lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, SunTrust Banks lowered their price target on shares of Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $184.30.

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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