Teachers Insurance & Annuity Association of America reduced its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,142 shares of the real estate investment trust’s stock after selling 65,893 shares during the period. Simon Property Group makes up 4.2% of Teachers Insurance & Annuity Association of America’s holdings, making the stock its 4th largest position. Teachers Insurance & Annuity Association of America owned approximately 0.07% of Simon Property Group worth $35,329,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in Simon Property Group by 1.1% in the second quarter. Northern Trust Corp now owns 6,008,760 shares of the real estate investment trust’s stock valued at $959,960,000 after acquiring an additional 64,654 shares during the period. Geode Capital Management LLC grew its stake in Simon Property Group by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock valued at $790,441,000 after acquiring an additional 507,345 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Simon Property Group by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,903,733 shares of the real estate investment trust’s stock worth $623,661,000 after buying an additional 33,585 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Simon Property Group by 4.0% during the first quarter. Nordea Investment Management AB now owns 2,117,655 shares of the real estate investment trust’s stock worth $385,853,000 after buying an additional 80,473 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Simon Property Group by 11.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,476,322 shares of the real estate investment trust’s stock valued at $235,857,000 after buying an additional 146,188 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

Several analysts recently issued reports on SPG shares. ValuEngine cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. SunTrust Banks reduced their target price on shares of Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Deutsche Bank dropped their price target on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. Morgan Stanley cut their price target on shares of Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. Finally, Citigroup reduced their price target on shares of Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $186.58.

SPG traded down $2.41 during mid-day trading on Wednesday, hitting $158.81. 153,883 shares of the stock were exchanged, compared to its average volume of 1,484,619. The firm’s fifty day moving average is $152.78 and its two-hundred day moving average is $167.36. Simon Property Group Inc has a 1-year low of $145.42 and a 1-year high of $191.49. The company has a market cap of $49.66 billion, a PE ratio of 13.08, a PEG ratio of 2.90 and a beta of 0.54. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.02.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.98 earnings per share. As a group, research analysts anticipate that Simon Property Group Inc will post 12.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.29%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Thursday, August 15th. Simon Property Group’s dividend payout ratio is presently 69.25%.

About Simon Property Group

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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

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