Simon Property Group Inc (SPG) Holding Boosted by Gyroscope Capital Management Group LLC

Simon Property Group Inc (SPG) Holding Boosted by Gyroscope Capital Management Group LLC

Gyroscope Capital Management Group LLC grew its position in shares of Simon Property Group Inc (NYSE:SPG) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,910 shares of the real estate investment trust’s stock after purchasing an additional 2,063 shares during the quarter. Simon Property Group makes up about 3.2% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 10th biggest holding. Gyroscope Capital Management Group LLC’s holdings in Simon Property Group were worth $7,863,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in Simon Property Group in the 2nd quarter worth $668,000. Envestnet Asset Management Inc. increased its holdings in Simon Property Group by 219.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,317 shares of the real estate investment trust’s stock worth $2,437,000 after acquiring an additional 9,842 shares in the last quarter. Peapack Gladstone Financial Corp purchased a new stake in Simon Property Group in the 2nd quarter worth $203,000. Centersquare Investment Management LLC increased its holdings in Simon Property Group by 7.3% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,070,931 shares of the real estate investment trust’s stock worth $522,642,000 after acquiring an additional 208,486 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Simon Property Group by 3,984.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 8,291 shares of the real estate investment trust’s stock worth $1,411,000 after acquiring an additional 8,088 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Shares of SPG opened at $175.10 on Wednesday. Simon Property Group Inc has a 52-week low of $145.78 and a 52-week high of $186.03. The company has a debt-to-equity ratio of 6.13, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $56.62 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.13. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a net margin of 40.11% and a return on equity of 55.59%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. As a group, analysts forecast that Simon Property Group Inc will post 12.12 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating in a research note on Friday, October 5th. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 target price on the stock in a research note on Thursday, October 4th. Bank of America lifted their target price on shares of Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Royal Bank of Canada lifted their target price on shares of Simon Property Group to $183.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 21st. Finally, Mizuho reaffirmed a “buy” rating and set a $188.00 target price on shares of Simon Property Group in a research note on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Simon Property Group has an average rating of “Buy” and an average price target of $190.36.

In other news, insider John Rulli sold 1,330 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $177.05, for a total transaction of $235,476.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.64% of the company’s stock.

Simon Property Group Company Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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