Investors bought shares of Simon Property Group Inc. (NYSE:SPG) on weakness during trading hours on Thursday. $65.65 million flowed into the stock on the tick-up and $51.47 million flowed out of the stock on the tick-down, for a money net flow of $14.18 million into the stock. Of all equities tracked, Simon Property Group had the 16th highest net in-flow for the day. Simon Property Group traded down ($2.69) for the day and closed at $219.62

SPG has been the topic of several recent analyst reports. Mizuho initiated coverage on shares of Simon Property Group in a report on Wednesday, April 13th. They issued a “buy” rating and a $233.00 price target on the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Simon Property Group in a report on Wednesday, April 20th. Vetr raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $217.76 target price on the stock in a report on Wednesday, April 6th. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 target price on the stock in a report on Tuesday, July 5th. Finally, Royal Bank Of Canada cut shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $220.00 to $230.00 in a report on Tuesday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Simon Property Group has an average rating of “Buy” and an average price target of $230.58.

The firm has a market capitalization of $69.01 billion and a P/E ratio of 39.01. The firm’s 50 day moving average price is $218.29 and its 200 day moving average price is $203.05.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, July 27th. The real estate investment trust reported $2.63 EPS for the quarter, topping the consensus estimate of $2.62 by $0.01. During the same period last year, the business earned $2.41 earnings per share. The firm earned $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Simon Property Group Inc. will post $10.87 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be given a $1.65 dividend. The ex-dividend date is Monday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.60. This represents a $6.60 annualized dividend and a yield of 3.01%.

Other hedge funds and institutional investors recently modified their holdings of the company. Suntrust Banks Inc. boosted its position in shares of Simon Property Group by 34.0% in the fourth quarter. Suntrust Banks Inc. now owns 19,414 shares of the real estate investment trust’s stock worth $3,774,000 after buying an additional 4,926 shares during the last quarter. Eagle Asset Management boosted its position in shares of Simon Property Group by 94.2% in the third quarter. Eagle Asset Management now owns 144,914 shares of the real estate investment trust’s stock worth $26,622,000 after buying an additional 70,298 shares during the last quarter. Waterfront Capital Partners LLC bought a new position in shares of Simon Property Group during the fourth quarter worth about $13,781,000. Cibc World Markets Corp bought a new position in shares of Simon Property Group during the fourth quarter worth about $43,749,000. Finally, Ashburton Jersey Ltd bought a new position in shares of Simon Property Group during the fourth quarter worth about $1,314,000.

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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