California State Teachers Retirement System Reduces Holdings in Simon Property Group, Inc. (SPG)

California State Teachers Retirement System cut its position in Simon Property Group, Inc. (NYSE:SPG) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 573,018 shares of the real estate investment trust’s stock after selling 34,993 shares during the quarter. California State Teachers Retirement System owned 0.18% of Simon Property Group worth $92,691,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norway Savings Bank raised its position in Simon Property Group by 19.5% in the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Simon Property Group by 27.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 169 shares during the last quarter. Alpha Windward LLC raised its position in shares of Simon Property Group by 12.2% during the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 93 shares during the last quarter. Israel Discount Bank of New York bought a new position in shares of Simon Property Group during the first quarter worth about $146,000. Finally, IHT Wealth Management LLC raised its position in shares of Simon Property Group by 5.3% during the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

SPG has been the subject of a number of analyst reports. Goldman Sachs Group, Inc. (The) upgraded Simon Property Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Jefferies Group LLC restated a “buy” rating on shares of Simon Property Group in a research report on Tuesday, July 25th. BMO Capital Markets initiated coverage on Simon Property Group in a research report on Monday, September 11th. They set an “outperform” rating and a $175.00 price objective for the company. Stifel Nicolaus set a $170.00 price objective on Simon Property Group and gave the stock a “hold” rating in a research report on Sunday, August 27th. Finally, BidaskClub upgraded Simon Property Group from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $193.76.

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Shares of Simon Property Group, Inc. (NYSE SPG) traded up 1.31% during midday trading on Tuesday, reaching $162.87. The company’s stock had a trading volume of 463,362 shares. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $199.85. The stock has a 50-day moving average price of $159.32 and a 200-day moving average price of $161.54. The stock has a market cap of $50.63 billion, a price-to-earnings ratio of 29.03 and a beta of 0.60.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $2.63 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post $6.35 earnings per share for the current fiscal year.

Simon Property Group 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.

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

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