BlackRock Inc. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,820,396 shares of the real estate investment trust’s stock after selling 949,058 shares during the period. BlackRock Inc. owned approximately 9.27% of Simon Property Group worth $4,661,987,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norinchukin Bank The raised its holdings in Simon Property Group by 1.5% in the 2nd quarter. Norinchukin Bank The now owns 37,727 shares of the real estate investment trust’s stock valued at $6,103,000 after acquiring an additional 562 shares during the last quarter. Chemical Bank grew its stake in shares of Simon Property Group by 3.7% in the 2nd quarter. Chemical Bank now owns 26,615 shares of the real estate investment trust’s stock valued at $4,305,000 after buying an additional 942 shares during the period. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Simon Property Group by 1.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 561,734 shares of the real estate investment trust’s stock valued at $90,866,000 after buying an additional 6,054 shares during the period. Uniplan Investment Counsel Inc. grew its stake in shares of Simon Property Group by 118.1% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock valued at $88,381,000 after buying an additional 714,159 shares during the period. Finally, Aberdeen Asset Management PLC UK grew its stake in shares of Simon Property Group by 5.9% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 73,689 shares of the real estate investment trust’s stock valued at $11,920,000 after buying an additional 4,093 shares during the period. Institutional investors own 95.16% of the company’s stock.

Several research firms have recently weighed in on SPG. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Argus dropped their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. BMO Capital Markets began coverage on shares of Simon Property Group in a research note on Monday. They issued an “outperform” rating and a $175.00 price target for the company. Barclays PLC increased their price target on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Simon Property Group has a consensus rating of “Buy” and an average target price of $193.76.

Simon Property Group, Inc. (SPG) traded up 0.770% during trading on Thursday, hitting $161.665. 567,737 shares of the company were exchanged. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $215.56. The company has a market capitalization of $50.25 billion, a price-to-earnings ratio of 28.812 and a beta of 0.58. The company has a 50-day moving average of $159.50 and a 200-day moving average of $163.28.

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, beating analysts’ consensus estimates of $2.44 by $0.03. The business 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%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.63 earnings per share. Analysts forecast that Simon Property Group, Inc. will post $6.35 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 $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 4.49%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date was Tuesday, August 15th. Simon Property Group’s payout ratio is presently 127.89%.

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Simon Property Group 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.

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

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