Cleararc Capital Inc buys $8,028,567 stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : Cleararc Capital Inc scooped up 14,538 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 Aug 11, 2016. The investment management firm now holds a total of 37,304 shares of Simon Property Group Inc which is valued at $8,028,567.Simon Property Group Inc makes up approximately 1.50% of Cleararc Capital Inc’s portfolio.

Other Hedge Funds, Including , King Luther Capital Management Corp sold out all of its stake in SPG during the most recent quarter. The investment firm sold 965 shares of SPG which is valued $207,687.Commerce Bank reduced its stake in SPG by selling 65 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 1,281 shares of SPG which is valued at $274,839. Forsta Ap-fonden added SPG to its portfolio by purchasing 133,100 company shares during the most recent quarter which is valued at $28,556,605. Simon Property Group Inc makes up approx 0.80% of Forsta Ap-fonden’s portfolio.Ropes Wealth Advisors boosted its stake in SPG in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 1,593 shares of Simon Property Group Inc which is valued at $341,778. Simon Property Group Inc makes up approx 0.12% of Ropes Wealth Advisors’s portfolio.Signaturefd boosted its stake in SPG in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 589 shares of Simon Property Group Inc which is valued at $133,727. Simon Property Group Inc makes up approx 0.02% of Signaturefd’s portfolio.

Simon Property Group Inc closed down -0.52 points or -0.24% at $211.97 with 6,77,694 shares getting traded on Tuesday. Post opening the session at $213.37, the shares hit an intraday low of $211.92 and an intraday high of $213.6 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Many Wall Street Analysts have commented on Simon Property Group Inc. Company shares were Reiterated by Canaccord Genuity on Aug 16, 2016 to “Buy”, Firm has raised the Price Target to $ 250 from a previous price target of $235 .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 .

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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