What’s in Simon Property Group Inc After Today’s Bearish Options Activity?

 What's in Simon Property Group Inc After Today's Bearish Options Activity?

In today’s session Simon Property Group Inc (SPG) recorded an unusually high (518) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SPG decrease. With 518 contracts traded and 1704 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SPG161118P00190000 closed last at: $2.98 or 56.8% up. Simon Property Group Inc (NYSE:SPG) has risen 1.83% since March 2, 2016 and is uptrending. It has underperformed by 6.42% the S&P500.

Analysts await Simon Property Group Inc (NYSE:SPG) to report earnings on October, 25. They expect $2.67 earnings per share, up 5.12% or $0.13 from last year’s $2.54 per share. SPG’s profit will be $838.99 million for 18.33 P/E if the $2.67 EPS becomes a reality. After $2.63 actual earnings per share reported by Simon Property Group Inc for the previous quarter, Wall Street now forecasts 1.52% EPS growth.

Simon Property Group Inc (NYSE:SPG) Ratings Coverage

Out of 11 analysts covering Simon Property Group (NYSE:SPG), 10 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 91% are positive. $266 is the highest target while $198 is the lowest. The $232.14 average target is 18.57% above today’s ($195.78) stock price. Simon Property Group has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Tuesday, August 2 report. The stock of Simon Property Group Inc (NYSE:SPG) has “Buy” rating given on Wednesday, August 17 by Deutsche Bank. BTIG Research initiated the shares of SPG in a report on Thursday, August 25 with “Buy” rating. Barclays Capital maintained Simon Property Group Inc (NYSE:SPG) on Wednesday, August 5 with “Overweight” rating. As per Monday, March 21, the company rating was maintained by Stifel Nicolaus. Evercore maintained the stock with “Buy” rating in Tuesday, September 8 report. As per Tuesday, July 28, the company rating was maintained by RBC Capital Markets. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, July 19. Argus Research maintained the shares of SPG in a report on Friday, November 13 with “Buy” rating. The firm earned “Buy” rating on Monday, March 7 by Evercore.

According to Zacks Investment Research, “Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.16, from 1.12 in 2016Q1. The ratio is positive, as 41 funds sold all Simon Property Group Inc shares owned while 189 reduced positions. 58 funds bought stakes while 236 increased positions. They now own 304.68 million shares or 5.25% less from 321.56 million shares in 2016Q1.
Ngam Lp has 136,520 shares for 0.41% of their US portfolio. Smith Asset Mngmt Group Incorporated Limited Partnership has invested 0.42% of its portfolio in Simon Property Group Inc (NYSE:SPG). Commercial Bank Of Hawaii has 0.06% invested in the company for 2,517 shares. Ipswich Investment Mgmt Co holds 0.14% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 1,347 shares. The Virginia-based Thompson Davis Communications Inc has invested 0.07% in Simon Property Group Inc (NYSE:SPG). New Harbor Fincl Gru Ltd Liability has 0.05% invested in the company for 207 shares. Essex Fincl Services Inc holds 0.2% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 3,771 shares. Pennsylvania Com accumulated 0.14% or 7,674 shares. Wesbanco Retail Bank holds 0.02% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 1,332 shares. Natl Bank Of New York Mellon owns 6.21M shares or 0.41% of their US portfolio. Wellington Llp has invested 0.05% of its portfolio in Simon Property Group Inc (NYSE:SPG). Sei Communications has 0.8% invested in the company for 617,505 shares. Gideon Capital Advsrs owns 7,817 shares or 0.99% of their US portfolio. Agran Libbie owns 51,892 shares or 2.81% of their US portfolio. Royal Fincl Bank Of Canada has invested 0.17% of its portfolio in Simon Property Group Inc (NYSE:SPG).

Insider Transactions: Since April 28, 2016, the stock had 1 buying transaction, and 2 insider sales for $1.69 million net activity. JUSTER ANDREW sold $1.51M worth of Simon Property Group Inc (NYSE:SPG) on Monday, August 29. Shares for $27,869 were bought by HUBBARD ALLAN B. Shares for $203,562 were sold by Broadwater Steven K..

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $61.52 billion. The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. It has a 34.76 P/E ratio. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

SPG Company Profile

Simon Property Group, Inc., incorporated on March 10, 1998, is a self-administered and self-managed real estate investment trust (REIT). The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets. The Firm owns an interest in approximately 210 income-producing properties in the United States, which consists of approximately 110 malls, 70 Premium Outlets, 15 Mills and 12 other retail properties in over 40 states and Puerto Rico. The Firm also owns The Mills at Jersey Gardens in Elizabeth, New Jersey, and University Park Village in Fort Worth, Texas.

Another recent and important Simon Property Group Inc (NYSE:SPG) news was published by Metrowestdailynews.com which published an article titled: “Simon Property Group Inc. announces mall manager” on September 16, 2016.

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