Gerstein Fisher buys $4,153,044 stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : Gerstein Fisher scooped up 4,903 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 8, 2016. The investment management firm now holds a total of 19,357 shares of Simon Property Group Inc which is valued at $4,153,044.Simon Property Group Inc makes up approximately 0.53% of Gerstein Fisher’s portfolio.

Other Hedge Funds, Including , 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.World Asset Management Inc boosted its stake in SPG in the latest quarter, The investment management firm added 353 additional shares and now holds a total of 38,053 shares of Simon Property Group Inc which is valued at $8,459,562. Simon Property Group Inc makes up approx 0.32% of World Asset Management Inc’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in SPG by selling 1,305 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 96,292 shares of SPG which is valued at $21,406,675. Simon Property Group Inc makes up approx 0.08% of Aberdeen Asset Management Plcuk’s portfolio. Highland Capital Management added SPG to its portfolio by purchasing 3,452 company shares during the most recent quarter which is valued at $770,624. Simon Property Group Inc makes up approx 0.06% of Highland Capital Management’s portfolio.

Simon Property Group Inc opened for trading at $214.35 and hit $214.98 on the upside on Monday, eventually ending the session at $214.08, with a gain of 0.24% or 0.51 points. The heightened volatility saw the trading volume jump to 11,48,148 shares. Company has a market cap of $67,271 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.

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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