TLP Group LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 73.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,344 shares of the real estate investment trust’s stock after selling 9,073 shares during the quarter. Simon Property Group comprises about 0.5% of TLP Group LLC’s holdings, making the stock its 10th largest holding. TLP Group LLC’s holdings in Simon Property Group were worth $541,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Norway Savings Bank increased its holdings in shares of Simon Property Group by 19.5% in the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 169 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $146,000. Alpha Windward LLC increased its holdings in shares of Simon Property Group by 12.2% in the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 93 shares during the last quarter. Finally, IHT Wealth Management LLC increased its holdings in shares of Simon Property Group by 5.3% in the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 46 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

SPG has been the subject of several recent research reports. Mizuho raised 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 cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $158.00 price target (down previously from $180.00) on shares of Simon Property Group in a report on Saturday, June 3rd. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and increased 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 issued a hold rating and twelve have given a buy rating to the stock. Simon Property Group presently has a consensus rating of “Buy” and a consensus price target of $193.76.

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Simon Property Group, Inc. (NYSE SPG) traded down 0.48% on Friday, hitting $158.81. The stock had a trading volume of 855,107 shares. The firm has a market cap of $49.36 billion, a price-to-earnings ratio of 28.30 and a beta of 0.58. The company’s 50-day moving average price is $159.49 and its 200 day moving average price is $162.53. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $215.56.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm earned $2.63 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts expect that Simon Property Group, Inc. will post $6.35 earnings per share for the current year.

The business also recently declared 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 yield of 4.53%. The ex-dividend date of this dividend was Tuesday, August 15th. 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.

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

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