BidaskClub Downgrades Simon Property Group, Inc. (SPG) to Sell

Lloyd Doyle
August 19, 2017

The fund owned 2,113 shares of the real estate investment trust's stock after selling 531 shares during the period. Creative Planning's holdings in Simon Property Group were worth $938,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Simon Property Group Inc (NYSE:SPG) has declined 18.56% since August 18, 2016 and is downtrending. LGT Capital Partners LTD. now owns 5,040 shares of the real estate investment trust's stock valued at $815,000 after buying an additional 940 shares during the last quarter. It also increased its holding in Cvs Health Corp Com (NYSE:CVS) by 722,704 shares in the quarter, for a total of 1.05M shares, and has risen its stake in Alexandria Real Estate Eq In Com (NYSE:ARE). Norway Savings Bank now owns 765 shares of the real estate investment trust's stock valued at $124,000 after buying an additional 125 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in Simon Property Group during the first quarter valued at $138,000. APG Asset Management US Inc. now owns 7,258,540 shares of the real estate investment trust's stock valued at $1,174,141,000 after buying an additional 498,800 shares in the last quarter. Finally, Israel Discount Bank of NY acquired a new position in Simon Property Group during the first quarter valued at $146,000. Pennsylvania Trust Co now owns 5,368 shares of the real estate investment trust's stock valued at $868,000 after buying an additional 3,496 shares during the period. Huntington Bank holds 0.19% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 59,942 shares. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust's stock worth $3,566,000 after buying an additional 294 shares in the last quarter.

Shares of Simon Property Group, Inc. (NYSE:SPG) on weakness during trading on Monday. The stock increased 0.29% or $0.46 during the last trading session, reaching $157.95. Ngam L P invested 0.33% in Simon Property Group Inc (NYSE:SPG). The company has market cap of $119.98 million. Moreover, Boston Private Wealth Ltd Liability Corp has 0.01% invested in Simon Property Group Inc (NYSE:SPG) for 1,198 shares. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. First Quadrant LP Ca has invested 0.11% in Simon Property Group Inc (NYSE:SPG). The business's quarterly revenue was up 3.5% compared to the same quarter a year ago. During the same quarter in the prior year, the company posted $2.63 earnings per share. Cohen & Steers Incorporated holds 8.44% in Simon Property Group Inc (NYSE:SPG) or 17.21 million shares. The firm has "Buy" rating by BTIG Research given on Thursday, August 25. Stockholders of record on Thursday, August 17th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 4.57%. RBC Capital Markets maintained the shares of SPG in report on Thursday, August 10 with "Hold" rating. Simon Property Group now has $49.10 billion valuation.

Cornerstone Advisors Inc. decreased its stake in shares of Simon Property Group, Inc. "(NYSE:SPG) Acquired by Moody Lynn & Lieberson LLC" was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of worldwide trademark & copyright laws. The original version of this news story can be read at https://weekherald.com/2017/08/18/bidaskclub-downgrades-simon-property-group-inc-spg-to-sell.html.


Several research analysts recently commented on SPG shares. BidaskClub downgraded Simon Property Group from a "hold" rating to a "sell" rating in a research note on Wednesday. The stock of Simon Property Group Inc (NYSE:SPG) has "Overweight" rating given on Wednesday, August 5 by Barclays Capital. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a "buy" rating in a research report on Wednesday, August 2nd.

Simon Property Group, Inc. has a consensus outperform rating from 22 Wall Street analysts, and the number of shares now sold short amount to at least 4.92% of shares outstanding. Zacks Investment Research raised Simon Property Group from a "sell" rating to a "hold" rating in a report on Thursday, June 22nd.

Among 20 analysts covering Charles Schwab (NYSE:SCHW), 14 have Buy rating, 0 Sell and 6 Hold. The stock of Simon Property Group Inc (NYSE:SPG) has "Hold" rating given on Monday, November 16 by Evercore.

The stock of Simon Property Group Inc (NYSE:SPG) is a huge mover today! The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. (Operating Partnership), is the Company's partnership subsidiary that owns all of its real estate properties and other assets.

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