Bbva Compass Bancshares Inc. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,018 shares of the real estate investment trust’s stock after selling 169 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Simon Property Group were worth $326,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in Simon Property Group by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 524,637 shares of the real estate investment trust’s stock valued at $84,759,000 after buying an additional 13,687 shares during the last quarter. Resolution Capital Ltd raised its position in Simon Property Group by 25.6% in the second quarter. Resolution Capital Ltd now owns 1,268,156 shares of the real estate investment trust’s stock valued at $205,137,000 after buying an additional 258,830 shares during the last quarter. Presima Inc. raised its position in Simon Property Group by 1,467.9% in the second quarter. Presima Inc. now owns 371,585 shares of the real estate investment trust’s stock valued at $60,108,000 after buying an additional 347,885 shares during the last quarter. Alpha Cubed Investments LLC raised its position in Simon Property Group by 126.8% in the second quarter. Alpha Cubed Investments LLC now owns 3,613 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 2,020 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Simon Property Group by 13.5% in the second quarter. Janney Montgomery Scott LLC now owns 10,361 shares of the real estate investment trust’s stock valued at $1,676,000 after buying an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Shares of Simon Property Group, Inc. (NYSE SPG) opened at 164.09 on Wednesday. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $222.37. The stock has a market cap of $51.01 billion, a P/E ratio of 29.24 and a beta of 0.58. The stock has a 50 day moving average price of $160.36 and a 200 day moving average price of $168.02.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, topping 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 net margin of 32.07% and a return on equity of 39.29%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 earnings per share. Equities analysts anticipate that Simon Property Group, Inc. will post $6.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 4.39%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, August 15th. Simon Property Group’s dividend payout ratio is presently 124.33%.

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A number of equities research analysts have issued reports on the company. Barclays PLC boosted their price target on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating on shares of Simon Property Group in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus assumed coverage on Simon Property Group in a research report on Friday, July 14th. They set a “hold” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Simon Property Group currently has an average rating of “Buy” and an average target price of $195.01.

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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