Everence Capital Management Inc. raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 33.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,293 shares of the real estate investment trust’s stock after buying an additional 2,100 shares during the period. Everence Capital Management Inc.’s holdings in Simon Property Group were worth $1,341,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SPG. Glen Harbor Capital Management LLC increased its stake in shares of Simon Property Group by 1,635.8% in the first quarter. Glen Harbor Capital Management LLC now owns 67,210 shares of the real estate investment trust’s stock worth $11,562,000 after buying an additional 63,338 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Simon Property Group by 168.7% in the first quarter. ProShare Advisors LLC now owns 294,361 shares of the real estate investment trust’s stock worth $19,356,000 after buying an additional 184,808 shares in the last quarter. PGGM Investments increased its stake in shares of Simon Property Group by 31.8% in the first quarter. PGGM Investments now owns 3,473,850 shares of the real estate investment trust’s stock worth $597,606,000 after buying an additional 839,043 shares in the last quarter. Sigma Planning Corp increased its stake in shares of Simon Property Group by 43.5% in the first quarter. Sigma Planning Corp now owns 3,792 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 1,149 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Simon Property Group by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,380 shares of the real estate investment trust’s stock worth $1,348,000 after buying an additional 246 shares in the last quarter. 95.77% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group, Inc. (SPG) traded down 2.30% on Friday, hitting $153.58. The stock had a trading volume of 2,131,492 shares. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $219.41. The stock’s 50-day moving average is $160.22 and its 200-day moving average is $166.37. The company has a market cap of $47.74 billion, a P/E ratio of 27.37 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 earnings per share. Analysts expect that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a dividend of $1.80 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Tuesday, August 15th. Simon Property Group’s dividend payout ratio is currently 127.89%.

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A number of brokerages have weighed in on SPG. Vetr downgraded 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 price objective on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC raised their price objective on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Argus cut their price objective on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. Finally, BidaskClub raised Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Simon Property Group currently has a consensus rating of “Hold” 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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