Canada Pension Plan Investment Board raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 907,508 shares of the real estate investment trust’s stock after buying an additional 31,700 shares during the period. Canada Pension Plan Investment Board’s holdings in Simon Property Group were worth $146,798,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Gradient Investments LLC increased its stake in shares of Simon Property Group by 21.1% in the first quarter. Gradient Investments LLC now owns 31,876 shares of the real estate investment trust’s stock valued at $5,484,000 after buying an additional 5,560 shares in the last quarter. HPM Partners LLC acquired a new stake in shares of Simon Property Group during the first quarter valued at about $2,755,000. Kissinger Financial Services LLC increased its stake in shares of Simon Property Group by 1.4% in the second quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock valued at $3,566,000 after buying an additional 294 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the first quarter valued at about $224,000. Finally, Private Advisor Group LLC increased its stake in shares of Simon Property Group by 16.6% in the first quarter. Private Advisor Group LLC now owns 5,150 shares of the real estate investment trust’s stock valued at $877,000 after buying an additional 734 shares in the last quarter. 95.64% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group, Inc. (NYSE:SPG) opened at 163.41 on Thursday. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $219.41. The stock’s 50 day moving average price is $160.80 and its 200-day moving average price is $167.46. The firm has a market cap of $50.79 billion, a price-to-earnings ratio of 29.12 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $2.63 earnings per share. Analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 4.41%. The ex-dividend date is Tuesday, August 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is presently 124.33%.

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Several equities research analysts recently issued reports on SPG shares. Vetr raised Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective for the company in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $185.00 in a research note on Tuesday, June 20th. Stifel Nicolaus started coverage on Simon Property Group in a research note on Friday, July 14th. They issued a “hold” rating and a $170.00 price objective for the company. ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $191.00 target price (down from $200.00) on shares of Simon Property Group in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Simon Property Group presently has an average rating of “Buy” and an average price target of $195.01.

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.

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

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