Huntington National Bank boosted its position in Simon Property Group Inc. (NYSE:SPG) by 29.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,620 shares of the real estate investment trust’s stock after buying an additional 14,896 shares during the period. Huntington National Bank’s holdings in Simon Property Group were worth $14,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of Simon Property Group by 7.8% in the second quarter. Daiwa Securities Group Inc. now owns 8,296,851 shares of the real estate investment trust’s stock worth $1,799,587,000 after buying an additional 600,445 shares during the period. PGGM Investments increased its position in shares of Simon Property Group by 6.1% in the second quarter. PGGM Investments now owns 4,179,904 shares of the real estate investment trust’s stock worth $906,621,000 after buying an additional 241,398 shares during the period. 1832 Asset Management L.P. increased its position in shares of Simon Property Group by 46.6% in the first quarter. 1832 Asset Management L.P. now owns 583,260 shares of the real estate investment trust’s stock worth $201,524,000 after buying an additional 185,430 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Simon Property Group by 248.4% in the first quarter. Canada Pension Plan Investment Board now owns 245,538 shares of the real estate investment trust’s stock worth $50,996,000 after buying an additional 175,071 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Simon Property Group by 19.3% in the first quarter. Wellington Management Group LLP now owns 917,766 shares of the real estate investment trust’s stock worth $190,610,000 after buying an additional 148,665 shares during the period. Hedge funds and other institutional investors own 98.56% of the company’s stock.

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

Simon Property Group Inc. (NYSE:SPG) traded up 1.65% during midday trading on Wednesday, reaching $198.77. 857,541 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $209.62 and its 200-day moving average price is $209.68. Simon Property Group Inc. has a one year low of $176.11 and a one year high of $229.10. The stock has a market cap of $62.46 billion, a PE ratio of 35.31 and a beta of 0.75.

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

SPG has been the subject of several research analyst reports. RBC Capital Markets lowered shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $220.00 to $230.00 in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. BTIG Research initiated coverage on shares of Simon Property Group in a research note on Thursday, August 25th. They issued a “buy” rating and a $266.00 price objective for the company. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 price objective for the company in a research note on Tuesday, July 5th. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $232.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, Vetr upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 price objective for the company in a research note on Tuesday, August 2nd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $236.00.

In other news, SVP Steven K. Broadwater sold 945 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the transaction, the senior vice president now directly owns 2,965 shares in the company, valued at $638,690.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Juster sold 7,000 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

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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