Independent Order of Foresters increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,330 shares of the real estate investment trust’s stock after buying an additional 10,800 shares during the period. Simon Property Group makes up about 9.2% of Independent Order of Foresters’ portfolio, making the stock its largest position. Independent Order of Foresters’ holdings in Simon Property Group were worth $11,053,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Logan Capital Management Inc. raised its stake in Simon Property Group by 0.6% in the first quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 15 shares during the last quarter. Whitnell & Co. raised its stake in Simon Property Group by 0.4% in the second quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock valued at $868,000 after buying an additional 21 shares during the last quarter. Lederer & Associates Investment Counsel CA raised its stake in Simon Property Group by 1.0% in the first quarter. Lederer & Associates Investment Counsel CA now owns 2,550 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 25 shares during the last quarter. Alpha Windward LLC raised its stake in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 30 shares during the last quarter. Finally, Guardian Life Insurance Co. of America raised its stake in Simon Property Group by 2.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 31 shares during the last quarter. Institutional investors own 95.64% of the company’s stock.

Simon Property Group, Inc. (NYSE:SPG) opened at 166.37 on Tuesday. The stock’s 50 day moving average price is $160.11 and its 200-day moving average price is $168.14. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $223.07. The company has a market cap of $51.71 billion, a P/E ratio of 29.65 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post $6.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s payout ratio is currently 124.33%.

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Several research firms recently weighed in on SPG. Barclays PLC decreased their price target on Simon Property Group from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a report on Monday, July 17th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $182.00 price target on shares of Simon Property Group in a report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $194.88.

Simon Property Group Company Profile

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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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