Bogart Wealth LLC Buys 2,005 Shares of Simon Property Group Inc (SPG)
Bogart Wealth LLC boosted its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 26.5% in the fourth quarter, HoldingsChannel reports. The firm owned 9,582 shares of the real estate investment trust’s stock after acquiring an additional 2,005 shares during the period. Simon Property Group makes up 1.1% of Bogart Wealth LLC’s portfolio, making the stock its 21st biggest position. Bogart Wealth LLC’s holdings in Simon Property Group were worth $1,646,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Patriot Wealth Management Inc. increased its stake in shares of Simon Property Group by 1.5% in the 4th quarter. Patriot Wealth Management Inc. now owns 40,695 shares of the real estate investment trust’s stock valued at $6,989,000 after buying an additional 616 shares during the period. DnB Asset Management AS increased its stake in shares of Simon Property Group by 1.2% in the 4th quarter. DnB Asset Management AS now owns 33,263 shares of the real estate investment trust’s stock valued at $5,713,000 after buying an additional 400 shares during the period. Prudential Financial Inc. increased its stake in shares of Simon Property Group by 7.6% in the 3rd quarter. Prudential Financial Inc. now owns 1,328,200 shares of the real estate investment trust’s stock valued at $213,854,000 after buying an additional 93,899 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Simon Property Group by 23.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 705,971 shares of the real estate investment trust’s stock valued at $113,668,000 after buying an additional 132,775 shares during the period. Finally, AXA increased its stake in shares of Simon Property Group by 39.8% in the 3rd quarter. AXA now owns 303,427 shares of the real estate investment trust’s stock valued at $48,855,000 after buying an additional 86,453 shares during the period. 47.38% of the stock is owned by hedge funds and other institutional investors.
In other Simon Property Group news, SVP Steven K. Broadwater sold 621 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.42% of the stock is owned by insiders.
Several equities research analysts have recently commented on SPG shares. BMO Capital Markets set a $175.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Friday, October 27th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. Argus reduced their price target on Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Wednesday, October 11th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $176.00 price target on shares of Simon Property Group in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $191.11.
Shares of Simon Property Group Inc (NYSE:SPG) opened at $164.98 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. The stock has a market capitalization of $52,790.00, a PE ratio of 29.15, a P/E/G ratio of 2.10 and a beta of 0.62. Simon Property Group Inc has a 12-month low of $150.15 and a 12-month high of $187.35.
Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. Simon Property Group’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.70 earnings per share. research analysts expect that Simon Property Group Inc will post 11.21 EPS for the current year.
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Simon Property Group 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.
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