Oakwood Capital Management LLC CA continued to hold its position in Simon Property Group Inc. (NYSE:SPG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the real estate investment trust’s stock at the end of the second quarter. Oakwood Capital Management LLC CA’s holdings in Simon Property Group were worth $2,277,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SPG. Arcadia Investment Management Corp MI boosted its position in Simon Property Group by 531.3% in the second quarter. Arcadia Investment Management Corp MI now owns 505 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 425 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA bought a new position in Simon Property Group during the first quarter worth about $206,000. Reynolds Capital Management LLC bought a new position in Simon Property Group during the first quarter worth about $208,000. William Harris Investors Inc. boosted its position in Simon Property Group by 0.8% in the first quarter. William Harris Investors Inc. now owns 1,092 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 9 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in Simon Property Group during the second quarter worth about $255,000. Institutional investors and hedge funds own 98.56% of the company’s stock.

Simon Property Group Inc. (NYSE:SPG) traded up 1.04% on Wednesday, reaching $210.87. 1,498,063 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $214.33 and its 200 day moving average price is $209.30. Simon Property Group Inc. has a 12 month low of $176.11 and a 12 month high of $229.10. The company has a market cap of $66.26 billion, a PE ratio of 37.45 and a beta of 0.76.

Simon Property Group (NYSE:SPG) last posted its quarterly 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. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Simon Property Group had a net margin of 34.03% and a return on equity of 34.61%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $2.41 earnings per share. On average, equities analysts expect that Simon Property Group Inc. will post $10.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 3.13%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, August 15th. Simon Property Group’s payout ratio is presently 117.23%.

SPG has been the subject of several recent research reports. Mizuho cut shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $238.00 price target for the company. in a research report on Wednesday, August 3rd. Vetr cut shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $225.68 price target for the company. in a research report on Thursday, June 9th. BTIG Research initiated coverage on shares of Simon Property Group in a research report on Thursday, August 25th. They issued a “buy” rating and a $266.00 price target for the company. Canaccord Genuity upped their price target on shares of Simon Property Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, August 16th. Finally, Stifel Nicolaus upped their price target on shares of Simon Property Group from $232.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $236.00.

In related news, SVP Steven K. Broadwater sold 945 shares of Simon Property Group stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $215.41, for a total value of $203,562.45. Following the transaction, the senior vice president now directly owns 2,965 shares of the company’s stock, valued at $638,690.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Juster sold 7,000 shares of Simon Property Group stock in a transaction on Monday, August 29th. The stock was sold at an average price of $215.68, for a total transaction of $1,509,760.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

About Simon Property Group

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.

5 Day Chart for NYSE:SPG

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