California State Teachers Retirement System Lowers stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : California State Teachers Retirement System reduced its stake in Simon Property Group Inc by 1.03% during the most recent quarter end. The investment management company now holds a total of 647,511 shares of Simon Property Group Inc which is valued at $143,948,170 after selling 6,751 shares in Simon Property Group Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Simon Property Group Inc makes up approximately 0.30% of California State Teachers Retirement System’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in SPG by selling 73 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 97,263 shares of SPG which is valued at $21,622,538. Simon Property Group Inc makes up approx 0.28% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Alps Advisors Inc reduced its stake in SPG by selling 1,157 shares or 5.91% in the most recent quarter. The Hedge Fund company now holds 18,407 shares of SPG which is valued at $4,080,832. Simon Property Group Inc makes up approx 0.04% of Alps Advisors Inc’s portfolio.American Investment Services reduced its stake in SPG by selling 312 shares or 3.86% in the most recent quarter. The Hedge Fund company now holds 7,762 shares of SPG which is valued at $1,740,551. Simon Property Group Inc makes up approx 0.74% of American Investment Services’s portfolio.

Simon Property Group Inc closed down -2.69 points or -1.21% at $219.62 with 10,37,105 shares getting traded on Thursday. Post opening the session at $222.55, the shares hit an intraday low of $219.37 and an intraday high of $223.065 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Simon Property Group Inc reported $2.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.62. The company had revenue of $1315.38 million for the quarter, compared to analysts expectations of $1347.01 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.41 EPS.

Investors should note that on Jul 27, 2016, Simon Property Group Inc announced a cash dividend of $1.6500. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Aug 31, 2016.

Many Wall Street Analysts have commented on Simon Property Group Inc. Mizuho Downgraded Simon Property Group Inc on Aug 3, 2016 to ” Neutral”, Price Target of the shares are set at $238.Company shares were Downgraded by RBC Capital Mkts on Aug 2, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 230 from a previous price target of $220 .Company shares were Reiterated by Stifel on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 240 from a previous price target of $232 .

Simon Property Group Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group L.P. (Operating Partnership) is the Company’s majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns develops and manages retail real estate properties which consist primarily of malls Premium Outlets and The Mills. As of December 31 2014 the Company owned or held an interest in 207 properties in the United States which consisted of 109 malls 68 Premium Outlets 13 Mills three community centers and 14 other retail properties in 37 states and Puerto Rico. As of December 31 2014 the Company had ownership interests in nine Premium Outlets in Japan three Premium Outlets in South Korea two Premium Outlets in Canada one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31 2014 the Company had non-controlling ownership interests in five outlet properties in Europe.

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