Gyroscope Capital Management Group LLC Buys 1,013 Shares of Simon Property Group Inc (NYSE:SPG)

Gyroscope Capital Management Group LLC increased its stake in Simon Property Group Inc (NYSE:SPG) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,594 shares of the real estate investment trust’s stock after buying an additional 1,013 shares during the quarter. Simon Property Group comprises approximately 2.5% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 21st largest holding. Gyroscope Capital Management Group LLC’s holdings in Simon Property Group were worth $6,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charter Trust Co. lifted its position in shares of Simon Property Group by 21.0% during the second quarter. Charter Trust Co. now owns 9,916 shares of the real estate investment trust’s stock worth $1,584,000 after purchasing an additional 1,722 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Simon Property Group by 8.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 720,975 shares of the real estate investment trust’s stock valued at $115,183,000 after buying an additional 57,589 shares during the period. Bank of The West increased its stake in shares of Simon Property Group by 58.2% during the second quarter. Bank of The West now owns 23,336 shares of the real estate investment trust’s stock valued at $3,728,000 after buying an additional 8,581 shares during the period. CWM LLC increased its stake in shares of Simon Property Group by 49.2% during the second quarter. CWM LLC now owns 482 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 159 shares during the period. Finally, First Heartland Consultants Inc. increased its stake in shares of Simon Property Group by 9.5% during the second quarter. First Heartland Consultants Inc. now owns 1,880 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 163 shares during the period. Institutional investors own 95.58% of the company’s stock.

SPG traded up $1.97 on Friday, hitting $149.16. The company had a trading volume of 53,386 shares, compared to its average volume of 1,580,327. The stock has a fifty day moving average price of $151.55 and a 200-day moving average price of $163.80. Simon Property Group Inc has a 12-month low of $145.28 and a 12-month high of $191.49. The company has a debt-to-equity ratio of 7.02, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $44.93 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 2.71 and a beta of 0.54.

Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.01. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned $2.98 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Analysts forecast that Simon Property Group Inc will post 12.28 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. SunTrust Banks cut their price target on Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Citigroup lowered Simon Property Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $187.00 to $170.00 in a research note on Monday, September 23rd. Morgan Stanley cut their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd. Finally, ValuEngine lowered Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $184.27.

Simon Property Group 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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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