Chemical Bank boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,615 shares of the real estate investment trust’s stock after buying an additional 942 shares during the quarter. Chemical Bank’s holdings in Simon Property Group were worth $4,305,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SPG. LS Investment Advisors LLC boosted its stake in Simon Property Group by 1.3% in the first quarter. LS Investment Advisors LLC now owns 15,946 shares of the real estate investment trust’s stock valued at $2,743,000 after buying an additional 208 shares in the last quarter. Swiss National Bank boosted its stake in Simon Property Group by 24.1% in the first quarter. Swiss National Bank now owns 1,275,798 shares of the real estate investment trust’s stock valued at $219,476,000 after buying an additional 247,900 shares in the last quarter. Icon Advisers Inc. Co. boosted its stake in Simon Property Group by 58.3% in the first quarter. Icon Advisers Inc. Co. now owns 7,600 shares of the real estate investment trust’s stock valued at $1,307,000 after buying an additional 2,800 shares in the last quarter. World Asset Management Inc boosted its stake in Simon Property Group by 17.6% in the first quarter. World Asset Management Inc now owns 39,369 shares of the real estate investment trust’s stock valued at $6,773,000 after buying an additional 5,897 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Simon Property Group by 12.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,884,231 shares of the real estate investment trust’s stock valued at $324,144,000 after buying an additional 213,373 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Simon Property Group in a research note on Monday. They issued an “outperform” rating and a $175.00 price objective on the stock. Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the company a “hold” rating in a research note on Sunday, August 27th. Jefferies Group LLC reissued a “buy” rating and set a $200.00 price target (up from $198.00) on shares of Simon Property Group in a research note on Thursday, August 24th. Argus cut their price target on Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Finally, BidaskClub lowered Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $193.76.

Simon Property Group, Inc. (NYSE SPG) traded up 1.24% during trading on Wednesday, hitting $159.50. The company had a trading volume of 363,644 shares. The stock has a market capitalization of $49.58 billion, a price-to-earnings ratio of 28.43 and a beta of 0.58. The company’s 50 day moving average price is $159.57 and its 200-day moving average price is $163.47. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $215.56.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.03. The company 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%. Simon Property Group’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.63 EPS. On average, analysts expect that Simon Property Group, Inc. will post $6.34 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was 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 4.57%. Simon Property Group’s dividend payout ratio is currently 127.89%.

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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