Longboard Asset Management LP Invests $219,000 in Simon Property Group, Inc. (NYSE:SPG)

Longboard Asset Management LP acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,273 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 acquiring an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. boosted its position in Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after purchasing an additional 88,378 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Simon Property Group by 373.6% in 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 purchasing an additional 993,694 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in Simon Property Group by 6.9% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock worth $193,023,000 after purchasing an additional 73,742 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.2 %

SPG stock opened at $173.47 on Tuesday. The stock has a market capitalization of $56.60 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74. The company has a 50-day moving average of $176.08 and a two-hundred day moving average of $169.77. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. 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 (NYSE:SPG) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.20 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Mizuho lifted their price objective 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. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.10.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

About Simon Property Group

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.