Simon Property Group, Inc. (SPG) Position Lowered by Standard Life Investments LTD

Standard Life Investments LTD lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,514,263 shares of the real estate investment trust’s stock after selling 9,389 shares during the quarter. Standard Life Investments LTD owned approximately 0.49% of Simon Property Group worth $244,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in SPG. Norway Savings Bank raised its holdings in shares of Simon Property Group by 19.5% during the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 125 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Simon Property Group by 27.3% during 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 acquiring an additional 169 shares in the last quarter. Alpha Windward LLC raised its holdings in shares of Simon Property Group by 12.2% during the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 93 shares in the last quarter. Israel Discount Bank of New York bought a new position in shares of Simon Property Group during the first quarter valued at approximately $146,000. Finally, IHT Wealth Management LLC raised its holdings in shares of Simon Property Group by 5.3% during the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

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A number of brokerages recently commented on SPG. Argus decreased their target price on Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, June 29th. Morgan Stanley restated an “equal weight” rating and set a $158.00 target price (down previously from $180.00) on shares of Simon Property Group in a report on Saturday, June 3rd. Zacks Investment Research downgraded Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus set a $170.00 target price on Simon Property Group and gave the company a “hold” rating in a report on Sunday, August 27th. Two 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’s stock. Simon Property Group has a consensus rating of “Buy” and a consensus price target of $193.76.

Simon Property Group, Inc. (NYSE SPG) traded up 1.3433% during midday trading on Wednesday, hitting $159.6664. The stock had a trading volume of 490,255 shares. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $215.56. The company’s 50 day moving average price is $159.58 and its 200-day moving average price is $163.47. The stock has a market cap of $49.63 billion, a PE ratio of 28.4560 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates 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 for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 EPS. Analysts forecast that Simon Property Group, Inc. will post $6.34 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 4.57%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date was Tuesday, August 15th. Simon Property Group’s payout ratio is presently 127.89%.

About Simon Property Group

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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