Robeco Institutional Asset Management B.V. cut its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 29.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,723 shares of the real estate investment trust’s stock after selling 80,957 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.06% of Simon Property Group worth $29,686,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Ashburton Jersey Ltd bought a new stake in shares of Simon Property Group in the second quarter valued at about $25,000. Griffin Asset Management Inc. bought a new stake in shares of Simon Property Group in the second quarter valued at about $26,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Simon Property Group in the second quarter valued at about $30,000. Weaver Consulting Group bought a new stake in shares of Simon Property Group in the second quarter valued at about $32,000. Finally, Ellevest Inc. bought a new stake in shares of Simon Property Group in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.
A number of analysts have recently commented on the company. ValuEngine lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. SunTrust Banks cut their price target on Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Barclays set a $218.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Friday, October 11th. Citigroup lowered Simon Property Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $187.00 to $170.00 in a report on Monday, September 23rd. Finally, Morgan Stanley cut their price target 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $184.30.
Simon Property Group (NYSE:SPG) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.01. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company posted $2.98 earnings per share. Simon Property Group’s revenue was up .7% on a year-over-year basis. On average, research analysts forecast that Simon Property Group Inc will post 12.23 earnings per share for the current year.
About Simon Property Group
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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