Northern Trust Corp reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,068,251 shares of the real estate investment trust’s stock after selling 9,037 shares during the quarter. Northern Trust Corp owned approximately 1.63% of Simon Property Group worth $819,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SPG. UBS Asset Management Americas Inc. raised its holdings in Simon Property Group by 12.8% during the 1st 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 during the last quarter. State of Wisconsin Investment Board raised its holdings in Simon Property Group by 16.2% during the 1st quarter. State of Wisconsin Investment Board now owns 314,606 shares of the real estate investment trust’s stock valued at $54,122,000 after buying an additional 43,872 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Simon Property Group by 26.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 46,926 shares of the real estate investment trust’s stock valued at $8,073,000 after buying an additional 9,937 shares during the last quarter. Ffcm LLC raised its holdings in Simon Property Group by 6.3% during the 1st quarter. Ffcm LLC now owns 32,331 shares of the real estate investment trust’s stock valued at $5,562,000 after buying an additional 1,925 shares during the last quarter. Finally, Sprott Inc. bought a new stake in Simon Property Group during the 1st quarter valued at $378,000. Institutional investors own 94.93% of the company’s stock.

Simon Property Group, Inc. (NYSE SPG) traded up 0.25% during mid-day trading on Wednesday, hitting $160.13. 567,318 shares of the stock were exchanged. The stock has a 50 day moving average of $159.49 and a 200-day moving average of $162.53. The stock has a market cap of $49.78 billion, a price-to-earnings ratio of 28.54 and a beta of 0.58. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $215.56.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 firm 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 firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 earnings per share. Equities analysts predict that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a $1.80 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Tuesday, August 15th. Simon Property Group’s payout ratio is presently 127.89%.

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SPG has been the subject of a number of recent analyst reports. Mizuho upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target for the company in a report on Tuesday, May 30th. ValuEngine lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $158.00 price target (down from $180.00) on shares of Simon Property Group in a report on Saturday, June 3rd. Zacks Investment Research lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $175.00 to $185.00 in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $193.76.

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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