Ausdal Financial Partners Inc. Holds Stake in Simon Property Group Inc. (SPG)
Ausdal Financial Partners Inc. held its stake in shares of Simon Property Group Inc. (NYSE:SPG) during the second quarter, Holdings Channel reports. The firm owned 1,265 shares of the real estate investment trust’s stock at the end of the second quarter. Ausdal Financial Partners Inc.’s holdings in Simon Property Group were worth $274,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI raised its stake in shares of Simon Property Group by 531.3% in the second quarter. Arcadia Investment Management Corp MI now owns 505 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 425 shares in the last quarter. Signaturefd LLC raised its stake in Simon Property Group by 12.4% in the second quarter. Signaturefd LLC now owns 589 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 65 shares during the period. Burke & Herbert Bank & Trust Co. bought a new stake in Simon Property Group during the second quarter valued at approximately $202,000. Reynolds Capital Management LLC bought a new stake in Simon Property Group during the first quarter valued at approximately $208,000. Finally, Sigma Planning Corp bought a new stake in Simon Property Group during the second quarter valued at approximately $255,000. Institutional investors and hedge funds own 98.55% of the company’s stock.
Shares of Simon Property Group Inc. (NYSE:SPG) traded up 1.02% on Tuesday, hitting $199.50. 445,370 shares of the company were exchanged. The stock has a market capitalization of $62.69 billion, a PE ratio of 35.44 and a beta of 0.75. Simon Property Group Inc. has a 52-week low of $176.11 and a 52-week high of $229.10. The firm’s 50-day moving average is $207.81 and its 200-day moving average is $209.45.
Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 27th. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.01. The company earned $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Simon Property Group had a net margin of 34.03% and a return on equity of 34.61%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 earnings per share. Equities research analysts predict that Simon Property Group Inc. will post $10.86 earnings per share for the current year.
Several research firms have recently commented on SPG. Argus set a $245.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Thursday, August 11th. Canaccord Genuity upped their price objective on Simon Property Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Deutsche Bank AG upped their price objective on Simon Property Group from $232.00 to $233.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada lowered Simon Property Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $220.00 to $230.00 in a research note on Tuesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Buy” and an average target price of $236.89.
In other Simon Property Group news, SVP Steven K. Broadwater sold 945 shares of Simon Property Group stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $215.41, for a total value of $203,562.45. Following the completion of the transaction, the senior vice president now owns 2,965 shares of the company’s stock, valued at $638,690.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Juster sold 7,000 shares of Simon Property Group stock in a transaction on Monday, August 29th. The shares were sold at an average price of $215.68, for a total transaction of $1,509,760.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.
About Simon Property Group
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.
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