Simon Property Group, Inc. (SPG) Position Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393,919 shares of the real estate investment trust’s stock after buying an additional 19,793 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.13% of Simon Property Group worth $63,721,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norway Savings Bank boosted its position in shares of Simon Property Group by 19.5% during the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted 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 valued at $127,000 after buying an additional 169 shares during the last quarter. Alpha Windward LLC boosted 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 valued at $138,000 after buying an additional 93 shares during the last quarter. Israel Discount Bank of New York purchased a new stake in shares of Simon Property Group during the first quarter valued at $146,000. Finally, IHT Wealth Management LLC boosted 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 valued at $155,000 after buying an additional 46 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors.

Shares of Simon Property Group, Inc. (NYSE:SPG) traded up 0.76% on Wednesday, reaching $164.15. The company’s stock had a trading volume of 131,384 shares. The stock has a market cap of $51.02 billion, a PE ratio of 29.26 and a beta of 0.60. The firm has a 50 day moving average price of $159.55 and a 200-day moving average price of $161.51. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $199.85.

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

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SPG has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $175.00 to $185.00 in a research report on Tuesday, June 20th. Jefferies Group LLC reaffirmed 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 on the stock. Stifel Nicolaus set a $170.00 price objective on Simon Property Group and gave the company a “hold” rating in a research report on Sunday, August 27th. Finally, BidaskClub raised 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 given a hold rating and twelve have issued a buy rating to the company. Simon Property Group has an average rating of “Buy” and a consensus price target of $193.76.

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.

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

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