Simon Property Group, Inc. (SPG) Stake Reduced by CCM Investment Advisers LLC

CCM Investment Advisers LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 16.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,000 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. CCM Investment Advisers LLC’s holdings in Simon Property Group were worth $808,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SPG. Vanguard Group Inc. boosted its stake in Simon Property Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 45,481,675 shares of the real estate investment trust’s stock valued at $7,824,213,000 after buying an additional 923,592 shares in the last quarter. BlackRock Inc. boosted its stake in Simon Property Group by 1,886.1% in the first quarter. BlackRock Inc. now owns 29,769,454 shares of the real estate investment trust’s stock valued at $5,121,238,000 after buying an additional 28,270,599 shares in the last quarter. State Street Corp boosted its stake in Simon Property Group by 0.7% in the first quarter. State Street Corp now owns 18,280,079 shares of the real estate investment trust’s stock valued at $3,144,722,000 after buying an additional 118,826 shares in the last quarter. APG Asset Management US Inc. boosted its stake in Simon Property Group by 7.4% in the second quarter. APG Asset Management US Inc. now owns 7,258,540 shares of the real estate investment trust’s stock valued at $1,174,141,000 after buying an additional 498,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Simon Property Group by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 5,730,284 shares of the real estate investment trust’s stock valued at $985,781,000 after buying an additional 17,815 shares in the last quarter. 95.64% of the stock is owned by institutional investors and hedge funds.

Simon Property Group, Inc. (NYSE:SPG) opened at 157.89 on Friday. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $219.41. The stock has a 50 day moving average price of $160.84 and a 200-day moving average price of $167.22. The company has a market cap of $49.08 billion, a price-to-earnings ratio of 28.14 and a beta of 0.58.

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 (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $2.63 EPS. On average, analysts predict that Simon Property Group, Inc. will post $6.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a $1.80 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a yield of 4.56%. Simon Property Group’s dividend payout ratio is 124.33%.

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SPG has been the subject of several recent analyst reports. Mizuho raised Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 target price for the company in a research note on Tuesday, May 30th. Stifel Nicolaus initiated coverage on Simon Property Group in a research note on Friday, July 14th. They set a “hold” rating and a $170.00 target price for the company. Barclays PLC decreased their target price on Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Simon Property Group in a research note on Monday, April 17th. Finally, Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $195.01.

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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