Alpha Omega Wealth Management LLC Trims Holdings in Simon Property Group, Inc. (NYSE:SPG)

Alpha Omega Wealth Management LLC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,814 shares of the real estate investment trust’s stock after selling 586 shares during the quarter. Simon Property Group accounts for about 1.4% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 15th largest position. Alpha Omega Wealth Management LLC’s holdings in Simon Property Group were worth $7,545,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after buying an additional 993,694 shares during the period. International Assets Investment Management LLC grew its position in Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after buying an additional 887,356 shares in the last quarter. Hamlin Capital Management LLC bought a new position in Simon Property Group in the 4th quarter worth about $109,403,000. Finally, Mizuho Securities USA LLC boosted its position in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after acquiring an additional 633,072 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $173.75 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. The business’s 50 day simple moving average is $176.08 and its two-hundred day simple moving average is $169.54. The stock has a market capitalization of $56.69 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 9.30 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.20 earnings per share. Analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent analyst reports. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $172.10.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.