Simon Property Group Inc. (NYSE:SPG) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $229.10 and last traded at $227.73, with a volume of 656,244 shares trading hands. The stock had previously closed at $224.07.

SPG has been the topic of a number of research reports. Citigroup Inc. boosted their target price on shares of Simon Property Group from $214.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, April 1st. Mizuho assumed coverage on shares of Simon Property Group in a report on Wednesday, April 13th. They set a “buy” rating and a $233.00 price objective on the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Simon Property Group in a report on Wednesday, April 20th. Vetr upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $217.76 price objective on the stock in a report on Wednesday, April 6th. Finally, Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 price objective on the stock in a report on Tuesday, July 5th. Sixteen equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $228.79.

The company’s 50 day moving average is $215.16 and its 200-day moving average is $201.66. The firm has a market cap of $70.25 billion and a price-to-earnings ratio of 39.84.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $2.63 EPS for the quarter, beating the consensus estimate of $2.62 by $0.01. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.41 EPS. On average, analysts anticipate that Simon Property Group Inc. will post $10.87 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be given a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 2.91%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, August 15th.

Several institutional investors recently bought and sold shares of the company. Agran Libbie raised its position in Simon Property Group by 9,970.4% in the fourth quarter. Agran Libbie now owns 5,225,546 shares of the real estate investment trust’s stock valued at $10,161,000 after buying an additional 5,173,656 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Simon Property Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,923,262 shares of the real estate investment trust’s stock valued at $762,843,000 after buying an additional 53,521 shares in the last quarter. Schroder Investment Management Group raised its position in Simon Property Group by 0.7% in the fourth quarter. Schroder Investment Management Group now owns 608,746 shares of the real estate investment trust’s stock valued at $118,365,000 after buying an additional 4,014 shares in the last quarter. Atlantic Trust Group LLC raised its position in Simon Property Group by 0.4% in the fourth quarter. Atlantic Trust Group LLC now owns 366,737 shares of the real estate investment trust’s stock valued at $71,308,000 after buying an additional 1,600 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Simon Property Group by 1.2% in the fourth quarter. Bank of Montreal Can now owns 358,277 shares of the real estate investment trust’s stock valued at $69,663,000 after buying an additional 4,091 shares in the last quarter.

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company 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.

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