Perigon Wealth Management LLC Has $1.12 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Perigon Wealth Management LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,459 shares of the real estate investment trust’s stock after selling 178 shares during the period. Perigon Wealth Management LLC’s holdings in Simon Property Group were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group during the 3rd quarter worth $834,000. First Hawaiian Bank increased its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 1,372 shares during the period. Red Cedar Investment Management LLC raised its position in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 10,644 shares in the last quarter. TTP Investments Inc. lifted its holdings in shares of Simon Property Group by 42.0% during the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after acquiring an additional 10,147 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $175.69 on Friday. The stock has a market cap of $57.32 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 9.26 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company’s fifty day moving average is $176.35 and its 200 day moving average is $169.34.

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

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.50% of the company’s stock.

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.