Kissinger Financial Services LLC raised its stake in shares of Simon Property Group Inc (NYSE:SPG) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,753 shares of the real estate investment trust’s stock after buying an additional 753 shares during the period. Simon Property Group comprises 3.9% of Kissinger Financial Services LLC’s investment portfolio, making the stock its 5th largest position. Kissinger Financial Services LLC’s holdings in Simon Property Group were worth $3,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norway Savings Bank raised its position in shares of Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 275 shares during the period. Bessemer Group Inc. raised its position in shares of Simon Property Group by 13.4% in the fourth quarter. Bessemer Group Inc. now owns 718 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 85 shares during the period. Alpha Windward LLC raised its position in shares of Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 30 shares during the period. Israel Discount Bank of New York GFN acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $142,000. Finally, FTB Advisors Inc. raised its position in shares of Simon Property Group by 4.1% in the third quarter. FTB Advisors Inc. now owns 909 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

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

Shares of Simon Property Group Inc (NYSE:SPG) traded down 0.19% during mid-day trading on Tuesday, hitting $174.24. The company had a trading volume of 624,771 shares. Simon Property Group Inc has a 52-week low of $163.55 and a 52-week high of $229.10. The firm has a 50-day moving average price of $172.30 and a 200 day moving average price of $181.64. The firm has a market capitalization of $54.55 billion, a price-to-earnings ratio of 29.68 and a beta of 0.60.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $2.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $1.05. The company earned $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. Simon Property Group had a net margin of 35.11% and a return on equity of 39.00%. Simon Property Group’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.40 EPS. Analysts expect that Simon Property Group Inc will post $6.60 earnings per share for the current year.

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Several research analysts have issued reports on the company. BTIG Research restated a “buy” rating and set a $231.00 target price on shares of Simon Property Group in a research report on Monday, April 3rd. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. Canaccord Genuity restated a “buy” rating on shares of Simon Property Group in a research report on Saturday, January 7th. Royal Bank of Canada restated a “hold” rating and set a $216.00 target price on shares of Simon Property Group in a research report on Tuesday, January 3rd. Finally, Goldman Sachs Group Inc lowered Simon Property Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $207.00 to $185.00 in a research report on Friday, March 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $219.31.

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 1,400 shares of Simon Property Group stock in a transaction on Tuesday, March 28th. The shares were bought at an average price of $166.00 per share, with a total value of $232,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by corporate 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.

5 Day Chart for NYSE:SPG

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