State Of Alaska Department Of Revenue buys $27,686,413 stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : State Of Alaska Department Of Revenue scooped up 1,100 additional shares in Simon Property Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 133,191 shares of Simon Property Group Inc which is valued at $27,686,413.Simon Property Group Inc makes up approximately 2.88% of State Of Alaska Department Of Revenue’s portfolio.

Simon Property Group Inc closed down -0.08 points or -0.04% at $207.87 with 10,66,654 shares getting traded on Friday. Post opening the session at $207.76, the shares hit an intraday low of $206.06 and an intraday high of $208.21 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx boosted its stake in SPG in the latest quarter, The investment management firm added 5,983 additional shares and now holds a total of 75,335 shares of Simon Property Group Inc which is valued at $15,659,886. Simon Property Group Inc makes up approx 0.35% of Exxonmobil Investment Management Inc Tx’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in SPG in the latest quarter, The investment management firm added 9,599 additional shares and now holds a total of 70,991 shares of Simon Property Group Inc which is valued at $14,756,899. Simon Property Group Inc makes up approx 0.34% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Grassi Investment Management boosted its stake in SPG in the latest quarter, The investment management firm added 175 additional shares and now holds a total of 3,995 shares of Simon Property Group Inc which is valued at $830,441. Simon Property Group Inc makes up approx 0.16% of Grassi Investment Management’s portfolio.

On the company’s financial health, Simon Property Group Inc reported $2.40 EPS for the quarter, based on the information available during the earnings call on Jan 29, 2016. Analyst had a consensus estimate of $2.40. The company had revenue of $1381.00 million for the quarter, compared to analysts expectations of $1399.40 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS.

Many Wall Street Analysts have commented on Simon Property Group Inc. Mizuho Initiated Simon Property Group Inc on Apr 14, 2016 to “Buy”, Price Target of the shares are set at $233.Company shares were Reiterated by Stifel on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 232 from a previous price target of $220 .Shares were Reiterated by RBC Capital Mkts on Feb 2, 2016 to “Outperform” and Lowered the Price Target to $ 215 from a previous price target of $225 .

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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