Global X Management Co. LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.0% during the second quarter, Holdings Channel reports. The fund owned 3,397 shares of the real estate investment trust’s stock after buying an additional 336 shares during the period. Global X Management Co. LLC’s holdings in Simon Property Group were worth $549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPG. Nationwide Fund Advisors raised its position in shares of Simon Property Group by 1.8% in the first quarter. Nationwide Fund Advisors now owns 355,557 shares of the real estate investment trust’s stock worth $61,166,000 after buying an additional 6,118 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Simon Property Group by 1.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 24,367 shares of the real estate investment trust’s stock worth $4,192,000 after buying an additional 343 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Simon Property Group by 3.8% in the first quarter. Retirement Systems of Alabama now owns 154,596 shares of the real estate investment trust’s stock worth $26,595,000 after buying an additional 5,659 shares during the last quarter. Motco raised its position in shares of Simon Property Group by 5.6% in the first quarter. Motco now owns 2,918 shares of the real estate investment trust’s stock worth $502,000 after buying an additional 155 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.

Shares of Simon Property Group, Inc. (NYSE SPG) opened at 157.95 on Thursday. The company has a market capitalization of $49.10 billion, a PE ratio of 28.15 and a beta of 0.58. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $219.41. The firm has a 50-day moving average price of $160.67 and a 200-day moving average price of $166.61.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations 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 firm earned $2.63 EPS. On average, equities research analysts predict that Simon Property Group, Inc. will post $6.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a $1.80 dividend. The ex-dividend date is Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a yield of 4.56%. Simon Property Group’s payout ratio is currently 127.89%.

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A number of research analysts recently commented on the company. Barclays PLC cut their target price on Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Vetr lowered Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 target price for the company. in a research note on Tuesday, May 2nd. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Argus cut their target price on Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, June 29th. Finally, BidaskClub upgraded Simon Property Group from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus 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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