Cresset Asset Management LLC Sells 28,955 Shares of Simon Property Group, Inc. (NYSE:SPG)

Cresset Asset Management LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 75.8% in the fourth quarter, Holdings Channel reports. The firm owned 9,246 shares of the real estate investment trust’s stock after selling 28,955 shares during the period. Cresset Asset Management LLC’s holdings in Simon Property Group were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the fourth quarter valued at about $28,000. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group in the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group during the fourth quarter valued at $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Simon Property Group stock opened at $163.26 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The firm’s fifty day moving average price is $158.81 and its 200-day moving average price is $171.15. The stock has a market cap of $53.27 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SPG shares. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a research report on Wednesday, April 9th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, Scotiabank lowered their target price on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $178.39.

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.