Could Simon Property Group Inc Lose Strenght? Option Traders Don’t Think So

 Could Simon Property Group Inc Lose Strenght? Option Traders Don't Think So

In today’s session Simon Property Group Inc (SPG) registered an unusually high (797) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SPG increase. With 797 contracts traded and 16714 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SPG161118C00185000 closed last at: $1.06 or 55.9% up. About 201,974 shares traded hands. Simon Property Group Inc (NYSE:SPG) has declined 12.25% since April 12, 2016 and is downtrending. It has underperformed by 17.24% the S&P500.

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 $232.21 average target is 28.48% above today’s ($180.73) stock price. Simon Property Group has been the topic of 29 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Canaccord Genuity initiated the stock with “Buy” rating in Wednesday, July 22 report. The company was maintained on Tuesday, July 19 by Barclays Capital. The firm earned “Buy” rating on Thursday, August 25 by BTIG Research. Evercore maintained the shares of SPG in a report on Tuesday, September 8 with “Buy” rating. RBC Capital Markets maintained the shares of SPG in a report on Tuesday, July 28 with “Outperform” rating. The firm has “Sector Perform” rating given on Tuesday, August 2 by RBC Capital Markets. The stock of Simon Property Group Inc (NYSE:SPG) has “Hold” rating given on Monday, November 16 by Evercore. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, February 2. Zacks downgraded Simon Property Group Inc (NYSE:SPG) on Monday, August 17 to “Buy” rating. The firm 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 improved, 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.
Fincl Mgmt Professionals Inc accumulated 475 shares or 0.05% of the stock. Moreover, Bokf Na has 0.07% invested in Simon Property Group Inc (NYSE:SPG) for 8,516 shares. Loring Wolcott And Coolidge Fiduciary Advsrs Llp Ma owns 4,749 shares or 0.02% of their US portfolio. Nomura Asset reported 235,577 shares or 0.96% of all its holdings. The Indiana-based First Fincl In has invested 0.81% in Simon Property Group Inc (NYSE:SPG). Fifth Third National Bank & Trust accumulated 0.15% or 81,468 shares. Hartford Invest Mngmt holds 79,120 shares or 0.36% of its portfolio. Savings Bank Of Nova Scotia owns 103,399 shares or 0.13% of their US portfolio. Fiduciary last reported 109,948 shares in the company. The New Jersey-based Bessemer Inc has invested 0% in Simon Property Group Inc (NYSE:SPG). New Harbor Financial Gru Limited Com accumulated 0.05% or 207 shares. The Ontario – Canada-based Brookfield Asset Mngmt has invested 2.08% in Simon Property Group Inc (NYSE:SPG). Profund Lc reported 21,988 shares or 0.23% of all its holdings. Ibm Retirement Fund reported 40,453 shares or 0.32% of all its holdings. Everence Capital Management Incorporated has invested 0.65% of its portfolio in Simon Property Group Inc (NYSE:SPG).

Insider Transactions: Since August 29, 2016, the stock had 0 insider buys, and 2 selling transactions for $1.71 million net activity. 7,000 shares were sold by JUSTER ANDREW, worth $1.51 million. Broadwater Steven K. sold $203,562 worth of stock or 945 shares.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $56.89 billion. The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. It has a 30.73 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 important recent Simon Property Group Inc (NYSE:SPG) news were published by: Wsj.com which released: “Simon Property Group Raises Profit Outlook on Improved Occupancy, Rents” on October 26, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Summit Hotel Properties, Simon Property Group and AFLAC”, Forbes.com published: “Simon Property Group is Oversold” on October 26, 2016. More interesting news about Simon Property Group Inc (NYSE:SPG) was released by: Prnewswire.com and their article: “Simon Property Group Reports Third Quarter 2016 Results And Raises Full Year …” with publication date: October 26, 2016.

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