Tower View Investment Management & Research LLC Boosts Stock Position in Simon Property Group Inc (NYSE:SPG)

Tower View Investment Management & Research LLC boosted its holdings in Simon Property Group Inc (NYSE:SPG) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,084 shares of the real estate investment trust’s stock after buying an additional 76 shares during the quarter. Tower View Investment Management & Research LLC’s holdings in Simon Property Group were worth $169,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SPG. Ashburton Jersey Ltd purchased a new position in Simon Property Group in the second quarter valued at $25,000. Griffin Asset Management Inc. purchased a new position in Simon Property Group in the second quarter valued at $26,000. Stonebridge Capital Advisors LLC purchased a new position in Simon Property Group in the second quarter valued at $30,000. Marino Stram & Associates LLC purchased a new position in Simon Property Group in the first quarter valued at $32,000. Finally, Weaver Consulting Group purchased a new position in Simon Property Group in the second quarter valued at $32,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SPG traded up $0.11 during trading hours on Wednesday, hitting $145.98. The company had a trading volume of 1,151,540 shares, compared to its average volume of 1,464,908. 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 1-year low of $145.28 and a 1-year high of $191.49. The company has a market cap of $45.02 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 2.75 and a beta of 0.54. The business has a 50 day moving average of $151.56 and a 200-day moving average of $163.95.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.01. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm posted $2.98 earnings per share. Simon Property Group’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts expect that Simon Property Group Inc will post 12.28 earnings per share for the current fiscal year.

Several equities analysts recently commented on SPG shares. Citigroup lowered Simon Property Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $187.00 to $170.00 in a report on Monday, September 23rd. Morgan Stanley dropped their target price on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Deutsche Bank decreased their price objective on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. ValuEngine downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, SunTrust Banks decreased their price objective on shares of Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average 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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