Cullinan Associates Inc. Lowers Holdings in Simon Property Group Inc (SPG)

Cullinan Associates Inc. lessened its stake in Simon Property Group Inc (NYSE:SPG) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,401 shares of the real estate investment trust’s stock after selling 2,700 shares during the quarter. Cullinan Associates Inc.’s holdings in Simon Property Group were worth $3,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in Simon Property Group by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 149,489 shares of the real estate investment trust’s stock valued at $25,110,000 after purchasing an additional 1,690 shares during the period. Moody National Bank Trust Division grew its holdings in Simon Property Group by 2.0% during the fourth quarter. Moody National Bank Trust Division now owns 10,281 shares of the real estate investment trust’s stock valued at $1,727,000 after purchasing an additional 202 shares during the period. Park National Corp OH grew its holdings in Simon Property Group by 3.4% during the fourth quarter. Park National Corp OH now owns 3,190 shares of the real estate investment trust’s stock valued at $536,000 after purchasing an additional 105 shares during the period. Pensionfund DSM Netherlands grew its holdings in Simon Property Group by 20.8% during the fourth quarter. Pensionfund DSM Netherlands now owns 82,308 shares of the real estate investment trust’s stock valued at $13,826,000 after purchasing an additional 14,200 shares during the period. Finally, Pensionfund Sabic grew its holdings in Simon Property Group by 38.2% during the fourth quarter. Pensionfund Sabic now owns 38,006 shares of the real estate investment trust’s stock valued at $6,385,000 after purchasing an additional 10,500 shares during the period. Hedge funds and other institutional investors own 92.79% of the company’s stock.

Shares of SPG opened at $172.35 on Friday. The company has a debt-to-equity ratio of 6.14, a quick ratio of 1.12 and a current ratio of 1.12. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $191.49. The company has a market capitalization of $55.57 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 2.36 and a beta of 0.53.



Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.07. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Analysts anticipate that Simon Property Group Inc will post 12.13 earnings per share for the current year.

In other Simon Property Group news, insider John Rulli sold 6,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total transaction of $1,119,120.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.64% of the company’s stock.

A number of brokerages recently issued reports on SPG. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Scotiabank set a $183.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a report on Monday, November 12th. Raymond James boosted their price objective on shares of Simon Property Group from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, October 29th. Morgan Stanley set a $180.00 price target on shares of Simon Property Group and gave the company a “hold” rating in a research note on Tuesday, November 27th. Finally, Argus lifted their price target on shares of Simon Property Group to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 11th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $193.27.

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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.

Read More: Quiet Period

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

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