Could Simon Property Group Inc Rise More? The Stock Had Bearish Options Activity

 Could Simon Property Group Inc Rise More? The Stock Had Bearish Options Activity

In today’s session Simon Property Group Inc (SPG) recorded an unusually high (579) 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 579 contracts traded and 8464 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SPG161118P00190000 closed last at: $3.65 or 21.7% up. Simon Property Group Inc (NYSE:SPG) has declined 1.08% since March 15, 2016 and is downtrending. It has underperformed by 6.56% 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 $838.95 million for 18.43 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. Simon Property Group has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating given on Tuesday, July 19 by Barclays Capital. The firm earned “Hold” rating on Monday, November 16 by Evercore. The company was initiated on Thursday, August 25 by BTIG Research. Stifel Nicolaus maintained Simon Property Group Inc (NYSE:SPG) rating on Monday, March 21. Stifel Nicolaus has “Buy” rating and $232 price target. The firm has “Buy” rating given on Monday, March 7 by Evercore. The company was maintained on Tuesday, July 28 by RBC Capital Markets. The stock of Simon Property Group Inc (NYSE:SPG) has “Overweight” rating given on Wednesday, August 5 by Barclays Capital. Stifel Nicolaus maintained Simon Property Group Inc (NYSE:SPG) on Wednesday, October 28 with “Buy” rating. The firm earned “Buy” rating on Tuesday, September 8 by Evercore. The stock of Simon Property Group Inc (NYSE:SPG) has “Buy” rating given on Friday, November 13 by Argus Research.

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 increased, 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.
Jefferies Gru Limited Liability, a New York-based fund reported 1,427 shares. Shell Asset Mngmt Commerce last reported 0.38% of its portfolio in the stock. Ncm Management Group owns 225 shares or 0.6% of their US portfolio. Boston Private Wealth Limited Co has 1,103 shares for 0.01% of their US portfolio. Dimensional Fund Lp accumulated 4.05 million shares or 0.51% of the stock. Korea Investment reported 332,980 shares or 0.43% of all its holdings. Commonwealth Svcs Limited last reported 0.02% of its portfolio in the stock. Maryland holds 0.05% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 1,387 shares. First Citizens National Bank And Trust has 3,297 shares for 0.06% of their US portfolio. The New York-based Nikko Asset Americas has invested 0.03% in Simon Property Group Inc (NYSE:SPG). Kistler holds 0.06% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 497 shares. Raymond James Fincl Ser Advisors holds 0.02% or 10,754 shares in its portfolio. Moreover, Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt has 0.05% invested in Simon Property Group Inc (NYSE:SPG) for 19,800 shares. Sentry Corp has 287,600 shares for 0.58% of their US portfolio. Robeco Institutional Asset Management Bv accumulated 0.25% or 149,362 shares.

Insider Transactions: Since April 28, 2016, the stock had 1 insider buy, and 2 insider sales for $1.69 million net activity. JUSTER ANDREW had sold 7,000 shares worth $1.51M on Monday, August 29. Shares for $27,869 were bought by HUBBARD ALLAN B. $203,562 worth of Simon Property Group Inc (NYSE:SPG) was sold by Broadwater Steven K. on Thursday, September 1.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $61.84 billion. The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. It has a 34.94 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.

More recent Simon Property Group Inc (NYSE:SPG) news were published by: Forbes.com which released: “Simon Property Group Enters Oversold Territory” on October 04, 2016. Also Streetinsider.com published the news titled: “Form 8-K SIMON PROPERTY GROUP For: Oct 17” on October 18, 2016. Reuters.com‘s news article titled: “BRIEF-Simon Property Group announces general counsel and secretary change” with publication date: October 17, 2016 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment