Traders bought shares of Simon Property Group Inc. (NYSE:SPG) on weakness during trading on Thursday. $123.60 million flowed into the stock on the tick-up and $96.28 million flowed out of the stock on the tick-down, for a money net flow of $27.32 million into the stock. Of all equities tracked, Simon Property Group had the 2nd highest net in-flow for the day. Simon Property Group traded down ($4.43) for the day and closed at $214.55

SPG has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on Simon Property Group from $232.00 to $240.00 and gave the company a “buy” rating in a research report 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 target for the company in a research report on Tuesday, July 5th. Vetr cut Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $227.18 price target for the company. in a research report on Wednesday, June 15th. Goldman Sachs Group Inc. cut Simon Property Group from a “conviction-buy” rating to a “buy” rating and reduced their price target for the company from $243.00 to $236.00 in a research report on Monday, June 13th. Finally, Mizuho reiterated a “buy” rating on shares of Simon Property Group in a research report on Thursday, May 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $231.53.

The company has a market cap of $67.63 billion and a P/E ratio of 38.23. The firm has a 50-day moving average price of $220.12 and a 200-day moving average price of $204.36.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be issued a $1.65 dividend. The ex-dividend date is Monday, August 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.60. This represents a $6.60 annualized dividend and a dividend yield of 3.07%.

Other hedge funds have bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake 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. KBC Group NV boosted its stake in 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. Bridgewater Associates LP acquired a new stake in Simon Property Group during the fourth quarter valued at approximately $2,303,000. American International Group Inc. boosted its stake in 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 valued at $25,976,000 after buying an additional 6,587 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in 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 valued at $3,774,000 after buying an additional 4,926 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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