Rhumbline Advisers raised its position in Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,230 shares of the real estate investment trust’s stock after buying an additional 4,316 shares during the period. Rhumbline Advisers’ holdings in Simon Property Group were worth $100,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SPG. State of Alaska Department of Revenue raised its position in Simon Property Group by 29.5% in the first quarter. State of Alaska Department of Revenue now owns 148,021 shares of the real estate investment trust’s stock worth $25,463,000 after buying an additional 33,690 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its position 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 worth $439,000 after buying an additional 25 shares in the last quarter. Whitnell & Co. raised its position in Simon Property Group by 6.4% in the first quarter. Whitnell & Co. now owns 5,342 shares of the real estate investment trust’s stock worth $919,000 after buying an additional 322 shares in the last quarter. Bank of The West raised its position in Simon Property Group by 7.7% in the first quarter. Bank of The West now owns 42,429 shares of the real estate investment trust’s stock worth $7,299,000 after buying an additional 3,034 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in Simon Property Group by 12.8% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,020,190 shares of the real estate investment trust’s stock worth $175,503,000 after buying an additional 115,615 shares in the last quarter. 95.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of Simon Property Group, Inc. (SPG) opened at 161.15 on Friday. The company has a market capitalization of $50.09 billion, a price-to-earnings ratio of 28.72 and a beta of 0.58. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $219.41. The company’s 50 day moving average is $160.87 and its 200 day moving average is $167.42.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. Simon Property Group’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 earnings per share. Equities research analysts predict that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 4.47%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. Simon Property Group’s dividend payout ratio is 124.33%.

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SPG has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $210.00 target price on shares of Simon Property Group in a report on Monday, April 17th. Barclays PLC decreased their target price on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Vetr lowered shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 target price on the stock. in a report on Tuesday, May 2nd. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Argus decreased their target price on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have assigned 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 target price 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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