Traders purchased 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 stocks 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

A number of research analysts recently issued reports on SPG shares. Stifel Nicolaus boosted their price objective on Simon Property Group from $232.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 price objective for the company in a research note on Tuesday, July 5th. Vetr downgraded Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $227.18 price objective for the company. in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. downgraded Simon Property Group from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $243.00 to $236.00 in a research note on Monday, June 13th. Finally, Mizuho reiterated a “buy” rating on shares of Simon Property Group in a research note on Thursday, May 26th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $230.58.

The company’s 50 day moving average price is $218.68 and its 200-day moving average price is $203.17. The firm has a market capitalization of $69.04 billion and a P/E ratio of 39.02.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be paid a $1.65 dividend. The ex-dividend date is Monday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.60. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.00%.

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted 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 worth $762,843,000 after buying an additional 53,521 shares during the last quarter. KBC Group NV boosted 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 worth $29,988,000 after buying an additional 13,004 shares during the last quarter. Eagle Asset Management boosted its stake 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. American International Group Inc. boosted its stake in shares of Simon Property Group by 5.2% in the fourth quarter. American International Group Inc. now owns 133,594 shares of the real estate investment trust’s stock worth $25,976,000 after buying an additional 6,587 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in shares of Simon Property Group by 9.0% in the fourth quarter. Stephens Inc. AR now owns 36,501 shares of the real estate investment trust’s stock worth $7,097,000 after buying an additional 3,000 shares during 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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