Public Employees Retirement Association of Colorado cut its stake in shares of Simon Property Group Inc. (NYSE:SPG) by 5.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 64,828 shares of the real estate investment trust’s stock after selling 3,441 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Simon Property Group were worth $14,061,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its position in Simon Property Group by 531.3% in the second quarter. Arcadia Investment Management Corp MI now owns 505 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 425 shares in the last quarter. Burke & Herbert Bank & Trust Co. bought a new position in Simon Property Group during the second quarter valued at $202,000. Reynolds Capital Management LLC bought a new position in Simon Property Group during the first quarter valued at $208,000. William Harris Investors Inc. boosted its position in Simon Property Group by 0.8% in the first quarter. William Harris Investors Inc. now owns 1,092 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 9 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in Simon Property Group during the second quarter valued at $255,000. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

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

Simon Property Group Inc. (NYSE:SPG) traded up 1.32% during trading on Wednesday, hitting $198.14. 616,706 shares of the stock traded hands. The company has a 50-day moving average price of $209.62 and a 200-day moving average price of $209.68. The stock has a market cap of $62.26 billion, a PE ratio of 35.19 and a beta of 0.75. Simon Property Group Inc. has a 12 month low of $176.11 and a 12 month high of $229.10.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.01. Simon Property Group had a net margin of 34.03% and a return on equity of 34.61%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Simon Property Group Inc. will post $10.86 EPS for the current year.

Several research analysts have weighed in on the stock. Argus set a $245.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Thursday, August 11th. Canaccord Genuity raised their target price on shares of Simon Property Group from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Vetr cut shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $227.18 target price on the stock. in a report on Wednesday, June 15th. Deutsche Bank AG raised their target price on shares of Simon Property Group from $232.00 to $233.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Finally, Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Simon Property Group has an average rating of “Buy” and an average price target of $236.00.

In other news, CFO Andrew Juster sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $215.68, for a total value of $1,509,760.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Steven K. Broadwater sold 945 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the sale, the senior vice president now directly owns 2,965 shares in the company, valued at approximately $638,690.65. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

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.

5 Day Chart for NYSE:SPG

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