Factory Mutual Insurance Co. Has $49.78 Million Stake in Simon Property Group, Inc. (SPG)

Factory Mutual Insurance Co. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,750 shares of the real estate investment trust’s stock after buying an additional 67,000 shares during the period. Factory Mutual Insurance Co.’s holdings in Simon Property Group were worth $49,783,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Xact Kapitalforvaltning AB increased its stake in shares of Simon Property Group by 1.8% in the second quarter. Xact Kapitalforvaltning AB now owns 44,540 shares of the real estate investment trust’s stock valued at $7,205,000 after buying an additional 769 shares during the period. West Oak Capital LLC increased its stake in shares of Simon Property Group by 6.4% in the second quarter. West Oak Capital LLC now owns 1,495 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 90 shares during the period. DnB Asset Management AS increased its stake in shares of Simon Property Group by 3.9% in the second quarter. DnB Asset Management AS now owns 34,663 shares of the real estate investment trust’s stock valued at $5,607,000 after buying an additional 1,300 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Simon Property Group by 0.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 249,110 shares of the real estate investment trust’s stock valued at $42,854,000 after buying an additional 2,109 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in shares of Simon Property Group during the first quarter valued at approximately $312,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Shares of Simon Property Group, Inc. (NYSE:SPG) traded down 0.58% during trading on Monday, hitting $155.73. 732,034 shares of the stock traded hands. The firm has a market cap of $48.62 billion, a P/E ratio of 26.65 and a beta of 0.58. The company has a 50-day moving average of $157.68 and a 200-day moving average of $171.65. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $229.10.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Simon Property Group had a net margin of 34.99% and a return on equity of 40.16%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.63 EPS. On average, analysts forecast that Simon Property Group, Inc. will post $6.33 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was reported by WKRB News and is the property of of WKRB News. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.wkrb13.com/markets/2286061/factory-mutual-insurance-co-has-49-78-million-stake-in-simon-property-group-inc-spg.html.

Several analysts have commented on SPG shares. Zacks Investment Research downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Monday, March 27th. Deutsche Bank AG raised their target price on shares of Simon Property Group from $188.00 to $191.00 and gave the stock a “hold” rating in a report on Monday, May 22nd. Barclays PLC restated an “overweight” rating and set a $191.00 target price (down from $200.00) on shares of Simon Property Group in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $207.00 to $185.00 in a report on Friday, March 17th. Finally, Vetr upgraded shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 target price on the stock in a report on Wednesday, April 26th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $198.70.

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG).

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

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286061/factory-mutual-insurance-co-has-49-78-million-stake-in-simon-property-group-inc-spg.html

Receive News & Ratings for Simon Property Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.