Simon Property Group Inc. (NYSE:SPG) shares traded down 2.4% during mid-day trading on Thursday . The company traded as low as $213.49 and last traded at $213.72, with a volume of 1,099,351 shares changing hands. The stock had previously closed at $218.98.

A number of research analysts have recently issued reports on the stock. Argus set a $245.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Mizuho lowered shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $238.00 price target on the stock. in a research report on Wednesday, August 3rd. Vetr raised shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 price target on the stock in a research report on Tuesday, August 2nd. Finally, RBC Capital Markets lowered shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $220.00 to $230.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Five equities 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 a consensus rating of “Buy” and an average price target of $231.53.

The company’s 50-day moving average is $219.94 and its 200 day moving average is $204.15. The stock has a market capitalization of $67.42 billion and a P/E ratio of 38.11.

Simon Property Group (NYSE:SPG) last announced its quarterly 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 company earned $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company posted $2.41 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts forecast that Simon Property Group Inc. will post $10.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be given a dividend of $1.65 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, August 15th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.08%.

Several hedge funds and institutional investors have made changes to their positions in the company. Ashburton Jersey Ltd acquired a new position in shares of Simon Property Group during the fourth quarter worth about $1,314,000. Victory Capital Management Inc. raised its position in shares of Simon Property Group by 74.0% in the fourth quarter. Victory Capital Management Inc. now owns 10,711 shares of the real estate investment trust’s stock worth $2,083,000 after buying an additional 4,554 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of Simon Property Group during the fourth quarter worth about $2,303,000. Suntrust Banks Inc. raised 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. Finally, Stephens Inc. AR raised its position 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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