Westpac Banking Corp Has Cut Its Position in Simon Ppty Group INC New (SPG) as Shares Declined

November 14, 2017 - By Hazel Jackson

Investors sentiment is 0.76 in 2017 Q2. Its the same as in 2017Q1. It is flat, as 65 investors sold SPG shares while 244 reduced holdings. only 62 funds opened positions while 173 raised stakes. 298.66 million shares or 0.53% less from 300.27 million shares in 2017Q1 were reported. Wellington Llp reported 0.02% in Simon Property Group Inc (NYSE:SPG). Amf Pensionsforsakring invested in 0.83% or 424,490 shares. Delta Asset Management Limited Liability Co Tn has 0.01% invested in Simon Property Group Inc (NYSE:SPG) for 475 shares. Voya Invest Mgmt Ltd invested 0.07% of its portfolio in Simon Property Group Inc (NYSE:SPG). Old Second Natl Bank Of Aurora stated it has 0.01% of its portfolio in Simon Property Group Inc (NYSE:SPG). Jefferies Grp Inc Lc owns 2,940 shares for 0% of their portfolio. 3,288 were accumulated by Motco. Royal Natl Bank Of Canada holds 869,434 shares or 0.07% of its portfolio. Kempen Cap Mngmt Nv holds 2.1% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 137,744 shares. Teachers Retirement System Of The State Of Kentucky has 142,342 shares. Spirit Of America Corp accumulated 25,550 shares. Patriot Wealth Management Incorporated stated it has 1.08% of its portfolio in Simon Property Group Inc (NYSE:SPG). Janney Montgomery Scott Limited Liability stated it has 0.02% in Simon Property Group Inc (NYSE:SPG). Oakbrook Invests Limited Liability Company invested in 0.15% or 13,618 shares. 275,823 were accumulated by Bnp Paribas Arbitrage.

Westpac Banking Corp decreased its stake in Simon Ppty Group Inc New (SPG) by 8.84% based on its latest 2017Q2 regulatory filing with the SEC. Westpac Banking Corp sold 39,782 shares as the company’s stock declined 12.82% while stock markets rallied. The institutional investor held 410,345 shares of the consumer services company at the end of 2017Q2, valued at $66.38 billion, down from 450,127 at the end of the previous reported quarter. Westpac Banking Corp who had been investing in Simon Ppty Group Inc New for a number of months, seems to be less bullish one the $51.52B market cap company. The stock rose 0.45% or $0.72 reaching $161.03. About 289,212 shares traded. Simon Property Group Inc (NYSE:SPG) has declined 18.56% since November 14, 2016 and is downtrending. It has underperformed by 35.26% the S&P500.

Westpac Banking Corp, which manages about $4.54 billion US Long portfolio, upped its stake in Kroger Co (NYSE:KR) by 50,651 shares to 152,333 shares, valued at $3.55B in 2017Q2, according to the filing. It also increased its holding in Expeditors Intl Wash Inc (NASDAQ:EXPD) by 2,259 shares in the quarter, for a total of 11,276 shares, and has risen its stake in Hasbro Inc (NASDAQ:HAS).

Wall Street await Simon Property Group Inc (NYSE:SPG) to release earnings on January, 30. Analysts forecast EPS of $3.13, up exactly $0.22 or 7.56 % from 2014’s $2.91 EPS. The expected SPG’s profit could reach $1.00B giving the stock 12.86 P/E in the case that $3.13 earnings per share is reported. After posting $2.89 EPS for the previous quarter, Simon Property Group Inc’s analysts now forecast 8.30 % EPS growth.

More notable recent Simon Property Group Inc (NYSE:SPG) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Summit Hotel Properties, Simon Property Group and …” on November 13, 2017, also Seekingalpha.com with their article: “Simon Property Group (SPG) Q3 2017 Results – Earnings Call Transcript” published on October 27, 2017, Seekingalpha.com published: “Simon Says Time To Buy” on November 13, 2017. More interesting news about Simon Property Group Inc (NYSE:SPG) were released by: Investorplace.com and their article: “Shrinking Earnings Momentum Keeps Simon Property Group (SPG) a Sell” published on November 01, 2017 as well as Prnewswire.com‘s news article titled: “Simon Property Group Announces Appointment of Stefan M. Selig to Board of …” with publication date: November 10, 2017.

Simon Property Group Inc (NYSE:SPG) Ratings Coverage

Among 18 analysts covering Simon Property Group (NYSE:SPG), 13 have Buy rating, 0 Sell and 5 Hold. Therefore 72% are positive. Simon Property Group has $266 highest and $170.0 lowest target. $203.35’s average target is 26.28% above currents $161.03 stock price. Simon Property Group had 59 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, October 12 by CFRA. As per Tuesday, July 18, the company rating was maintained by Barclays Capital. As per Sunday, August 27, the company rating was maintained by Stifel Nicolaus. On Friday, October 27 the stock rating was maintained by SunTrust with “Hold”. The firm has “Buy” rating by Argus Research given on Thursday, August 11. On Thursday, July 20 the stock rating was maintained by Boenning & Scattergood with “Buy”. The rating was downgraded by Goldman Sachs on Friday, March 17 to “Neutral”. The firm has “Buy” rating given on Monday, August 17 by Zacks. The stock has “Buy” rating by Goldman Sachs on Tuesday, June 20. Jefferies maintained Simon Property Group Inc (NYSE:SPG) on Monday, July 24 with “Buy” rating.

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