Amundi Pioneer Asset Management Inc. Cuts Stock Position in Simon Property Group Inc (NYSE:SPG)

Amundi Pioneer Asset Management Inc. lessened its holdings in Simon Property Group Inc (NYSE:SPG) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 829,023 shares of the real estate investment trust’s stock after selling 160,540 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.27% of Simon Property Group worth $151,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Simon Property Group during the 4th quarter worth $490,827,000. FMR LLC grew its holdings in shares of Simon Property Group by 19.8% during the 4th quarter. FMR LLC now owns 8,049,529 shares of the real estate investment trust’s stock worth $1,352,241,000 after purchasing an additional 1,331,005 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Simon Property Group by 200.7% during the 4th quarter. APG Asset Management N.V. now owns 862,345 shares of the real estate investment trust’s stock worth $126,725,000 after purchasing an additional 575,600 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Simon Property Group by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock worth $790,441,000 after purchasing an additional 507,345 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Simon Property Group by 37.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,808,691 shares of the real estate investment trust’s stock worth $303,841,000 after purchasing an additional 492,883 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Several research firms recently weighed in on SPG. Deutsche Bank set a $60.00 price objective on Taubman Centers and gave the company a “hold” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research note on Monday, June 3rd. Citigroup reaffirmed a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of in a research note on Thursday, June 20th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $190.33.

Shares of SPG traded down $0.75 during mid-day trading on Thursday, reaching $159.39. 2,152,500 shares of the company were exchanged, compared to its average volume of 1,410,438. Simon Property Group Inc has a 52 week low of $157.84 and a 52 week high of $191.49. The company has a debt-to-equity ratio of 6.34, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $49.26 billion, a PE ratio of 13.14, a PEG ratio of 2.95 and a beta of 0.52. The stock has a 50 day simple moving average of $162.69.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.02. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $2.00 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that Simon Property Group Inc will post 12.38 EPS for the current fiscal year.

In other news, insider John Rulli sold 9,160 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the transaction, the insider now directly owns 29,646 shares in the company, valued at $5,222,735.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.75% of the stock is owned by company insiders.

Simon Property Group Profile

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

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