Strategic Global Advisors LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,441 shares of the real estate investment trust’s stock after selling 710 shares during the period. Strategic Global Advisors LLC’s holdings in Simon Property Group were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kissinger Financial Services LLC lifted its stake in shares of Simon Property Group by 1.4% in the 2nd quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock valued at $3,566,000 after purchasing an additional 294 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Simon Property Group by 9.7% in the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after purchasing an additional 542,743 shares during the period. Partners Value Investments LP acquired a new position in shares of Simon Property Group in the 2nd quarter valued at $11,647,000. Private Advisor Group LLC lifted its stake in shares of Simon Property Group by 16.6% in the 1st quarter. Private Advisor Group LLC now owns 5,150 shares of the real estate investment trust’s stock valued at $877,000 after purchasing an additional 734 shares during the period. Finally, Ffcm LLC lifted its stake in shares of Simon Property Group by 6.4% in the 2nd quarter. Ffcm LLC now owns 34,405 shares of the real estate investment trust’s stock valued at $5,565,000 after purchasing an additional 2,074 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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A number of equities analysts have weighed in on the stock. Jefferies Group LLC restated a “buy” rating and set a $190.00 price objective on shares of Simon Property Group in a research report on Monday, July 17th. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets assumed coverage on shares of Simon Property Group in a research report on Monday, September 11th. They set an “outperform” rating and a $175.00 price objective for the company. Zacks Investment Research cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Argus reduced their price objective on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $193.76.

Simon Property Group, Inc. (SPG) traded up 0.62% during midday trading on Friday, hitting $164.77. 2,811,561 shares of the stock were exchanged. The firm has a 50-day moving average price of $159.43 and a 200-day moving average price of $163.10. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $215.56. The stock has a market cap of $51.22 billion, a P/E ratio of 29.37 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.63 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s payout ratio is 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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