Eii Capital Management Lowers stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : Eii Capital Management reduced its stake in Simon Property Group Inc by 10.6% during the most recent quarter end. The investment management company now holds a total of 112,116 shares of Simon Property Group Inc which is valued at $24,924,508 after selling 13,300 shares in Simon Property Group Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Simon Property Group Inc makes up approximately 7.12% of Eii Capital Management’s portfolio.

Other Hedge Funds, Including , Rmr Advisors boosted its stake in SPG in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 40,927 shares of Simon Property Group Inc which is valued at $9,098,481. Simon Property Group Inc makes up approx 4.23% of Rmr Advisors’s portfolio.Pitcairn Co reduced its stake in SPG by selling 11 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 1,264 shares of SPG which is valued at $280,229. Simon Property Group Inc makes up approx 0.04% of Pitcairn Co’s portfolio.Gradient Investments boosted its stake in SPG in the latest quarter, The investment management firm added 1,626 additional shares and now holds a total of 20,985 shares of Simon Property Group Inc which is valued at $4,664,546. Simon Property Group Inc makes up approx 0.50% of Gradient Investments’s portfolio.Raymond James Trust N.a. reduced its stake in SPG by selling 262 shares or 3.43% in the most recent quarter. The Hedge Fund company now holds 7,387 shares of SPG which is valued at $1,621,890. Simon Property Group Inc makes up approx 0.14% of Raymond James Trust N.a.’s portfolio.

Simon Property Group Inc opened for trading at $219.69 and hit $222.37 on the upside on Monday, eventually ending the session at $219.97, with a gain of 0.12% or 0.26 points. The heightened volatility saw the trading volume jump to 11,47,483 shares. Company has a market cap of $69,122 M.

On the company’s financial health, Simon Property Group Inc reported $2.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 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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