First National Trust Co Sells 451 Shares of Simon Property Group Inc (SPG)

First National Trust Co lessened its position in shares of Simon Property Group Inc (NYSE:SPG) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,905 shares of the real estate investment trust’s stock after selling 451 shares during the quarter. First National Trust Co’s holdings in Simon Property Group were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 317 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 7 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Simon Property Group by 791.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 4,843 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $204,000. Finally, Probity Advisors Inc. acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $211,000. 47.52% of the stock is currently owned by institutional investors.

Simon Property Group Inc (SPG) opened at $164.24 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group Inc has a 52-week low of $150.15 and a 52-week high of $187.35. The company has a market capitalization of $52,550.00, a P/E ratio of 29.02, a P/E/G ratio of 2.09 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $2.70 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts forecast that Simon Property Group Inc will post 11.21 earnings per share for the current fiscal year.

In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the transaction, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $393,765.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.42% of the company’s stock.

SPG has been the topic of several recent research reports. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a report on Wednesday, October 11th. Stifel Nicolaus restated a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a research report on Thursday, October 12th. BMO Capital Markets set a $175.00 target price on Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Mizuho set a $183.00 target price on Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $191.11.

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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.

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

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