Duff Phelps Investment Management Co Lowers stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : Duff Phelps Investment Management Co reduced its stake in Simon Property Group Inc by 0.79% during the most recent quarter end. The investment management company now holds a total of 990,277 shares of Simon Property Group Inc which is valued at $208,770,197 after selling 7,885 shares in Simon Property Group Inc , the firm said in a disclosure report filed with the SEC on May 3, 2016.Simon Property Group Inc makes up approximately 3.26% of Duff Phelps Investment Management Co’s portfolio.

Other Hedge Funds, Including , Bank Of The West boosted its stake in SPG in the latest quarter, The investment management firm added 368 additional shares and now holds a total of 28,137 shares of Simon Property Group Inc which is valued at $5,931,842. Simon Property Group Inc makes up approx 0.83% of Bank Of The West’s portfolio. Quantitative Investment Management added SPG to its portfolio by purchasing 28,700 company shares during the most recent quarter which is valued at $6,050,534. Simon Property Group Inc makes up approx 0.29% of Quantitative Investment Management’s portfolio.Ohio National Investments boosted its stake in SPG in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 6,962 shares of Simon Property Group Inc which is valued at $1,400,546. Simon Property Group Inc makes up approx 0.26% of Ohio National Investments’s portfolio. Strs Ohio sold out all of its stake in SPG during the most recent quarter. The investment firm sold 771,435 shares of SPG which is valued $155,937,871. Patriot Wealth Management sold out all of its stake in SPG during the most recent quarter. The investment firm sold 44,865 shares of SPG which is valued $9,069,011.

Simon Property Group Inc opened for trading at $213.69 and hit $214.8 on the upside on Tuesday, eventually ending the session at $213.92, with a gain of 0.41% or 0.88 points. The heightened volatility saw the trading volume jump to 11,33,522 shares. Company has a market cap of $66,190 M.

On the company’s financial health, Simon Property Group Inc reported $2.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.54. The company had revenue of $1336.70 million for the quarter, compared to analysts expectations of $1297.81 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 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 .

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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