Vanguard Group Inc. Boosts Position in Simon Property Group, Inc. (SPG)

Vanguard Group Inc. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,741,576 shares of the real estate investment trust’s stock after purchasing an additional 259,901 shares during the quarter. Vanguard Group Inc. owned about 14.72% of Simon Property Group worth $7,399,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. UBS Asset Management Americas Inc. grew its position in Simon Property Group by 12.8% in 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 purchasing an additional 213,373 shares during the period. State of Wisconsin Investment Board grew its position in Simon Property Group by 16.2% in 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 purchasing an additional 43,872 shares during the period. Mutual of America Capital Management LLC grew its position in Simon Property Group by 26.9% in 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 purchasing an additional 9,937 shares during the period. Ffcm LLC grew its position in Simon Property Group by 6.3% in the 1st quarter. Ffcm LLC now owns 32,331 shares of the real estate investment trust’s stock valued at $5,562,000 after purchasing an additional 1,925 shares during the period. Finally, Sprott Inc. acquired a new stake in Simon Property Group in the 1st quarter valued at $378,000. 94.93% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the stock. Mizuho raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price objective on the stock in a report on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price objective on shares of Simon Property Group in a report on Monday, July 17th. Argus cut their price objective on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $185.00 in a report on Tuesday, June 20th. Finally, Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $193.76.

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Simon Property Group, Inc. (NYSE SPG) traded up 0.16% during midday trading on Wednesday, hitting $159.99. The stock had a trading volume of 635,465 shares. The firm has a market cap of $49.73 billion, a price-to-earnings ratio of 28.51 and a beta of 0.58. The firm has a 50 day moving average of $159.49 and a 200 day moving average of $162.53. 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 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the firm posted $2.63 earnings per share. Simon Property Group’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts predict that Simon Property Group, Inc. will post $6.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was 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 dividend yield of 4.51%. Simon Property Group’s dividend payout ratio (DPR) is 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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