Bank of Montreal Can Trims Position in Simon Property Group, Inc. $SPG

Bank of Montreal Can cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 640,760 shares of the real estate investment trust’s stock after selling 8,004 shares during the quarter. Bank of Montreal Can’s holdings in Simon Property Group were worth $103,009,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SPG. Trust Co. of Toledo NA OH purchased a new position in shares of Simon Property Group during the second quarter valued at approximately $25,000. Park Square Financial Group LLC increased its stake in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the period. WPG Advisers LLC purchased a new position in shares of Simon Property Group during the first quarter valued at approximately $47,000. Finally, TCTC Holdings LLC increased its stake in shares of Simon Property Group by 93.5% during the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 186 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPG has been the topic of several research reports. Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target on the stock. in a research report on Tuesday, September 2nd. Scotiabank lifted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Piper Sandler lifted their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Argus restated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Finally, Morgan Stanley lifted their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $187.31.

Simon Property Group Trading Up 0.6%

Simon Property Group stock opened at $176.83 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The business’s fifty day simple moving average is $180.20 and its two-hundred day simple moving average is $168.85. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market capitalization of $57.73 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $2.90 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares of the company’s stock, valued at $8,095,519.20. The trade was a 0.81% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the acquisition, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This represents a 1.15% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 2,163 shares of company stock valued at $401,605. Company insiders own 8.66% of the company’s stock.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.