Investors purchased shares of Simon Property Group Inc. (NYSE:SPG) on weakness during trading on Wednesday. $112.39 million flowed into the stock on the tick-up and $62.47 million flowed out of the stock on the tick-down, for a money net flow of $49.92 million into the stock. Of all companies tracked, Simon Property Group had the 12th highest net in-flow for the day. Simon Property Group traded down ($1.30) for the day and closed at $222.31

SPG has been the subject of a number of analyst reports. Mizuho downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $238.00 target price for the company. in a research report on Wednesday. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Vetr raised shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 target price for the company in a research report on Tuesday. Jefferies Group reaffirmed a “buy” rating on shares of Simon Property Group in a research report on Wednesday, April 27th. Finally, RBC Capital Markets downgraded shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $220.00 to $230.00 in a research report on Tuesday. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Simon Property Group has a consensus rating of “Buy” and an average target price of $230.58.

The firm has a 50 day moving average of $217.85 and a 200 day moving average of $202.93. The firm has a market capitalization of $69.86 billion and a price-to-earnings ratio of 39.49.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $2.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.01. During the same quarter in the previous year, the company posted $2.41 EPS. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that Simon Property Group Inc. will post $10.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be issued a dividend of $1.65 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $6.60 annualized dividend and a yield of 2.97%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.60.

Several hedge funds have recently made changes to their positions in SPG. Agran Libbie increased its stake in shares of 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 increased its stake in shares of 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. Atlantic Trust Group LLC increased its stake in shares of 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. Cibc World Markets Corp purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $43,749,000. Finally, KBC Group NV increased its stake in shares of Simon Property Group by 9.2% in the fourth quarter. KBC Group NV now owns 154,224 shares of the real estate investment trust’s stock valued at $29,988,000 after buying an additional 13,004 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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