Duff & Phelps Investment Management Co. lowered its stake in shares of Simon Property Group Inc. (NYSE:SPG) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 986,460 shares of the real estate investment trust’s stock after selling 642 shares during the period. Simon Property Group accounts for about 2.9% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its largest position. Duff & Phelps Investment Management Co. owned approximately 0.31% of Simon Property Group worth $204,207,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Retirement Systems of Alabama increased its stake in shares of Simon Property Group by 0.3% in the second quarter. Retirement Systems of Alabama now owns 157,740 shares of the real estate investment trust’s stock valued at $34,214,000 after buying an additional 515 shares during the last quarter. Huntington National Bank increased its stake in shares of Simon Property Group by 29.4% in the second quarter. Huntington National Bank now owns 65,620 shares of the real estate investment trust’s stock valued at $14,233,000 after buying an additional 14,896 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Simon Property Group by 6.8% in the second quarter. UBS Asset Management Americas Inc. now owns 1,651,995 shares of the real estate investment trust’s stock valued at $358,318,000 after buying an additional 105,327 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of Simon Property Group by 5.6% in the second quarter. Ngam Advisors L.P. now owns 136,520 shares of the real estate investment trust’s stock valued at $29,611,000 after buying an additional 7,242 shares during the last quarter. Finally, Standard Life Investments LTD increased its stake in shares of Simon Property Group by 9.3% in the second quarter. Standard Life Investments LTD now owns 202,513 shares of the real estate investment trust’s stock valued at $43,927,000 after buying an additional 17,297 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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

Shares of Simon Property Group Inc. (NYSE:SPG) opened at 181.33 on Tuesday. Simon Property Group Inc. has a 12 month low of $174.91 and a 12 month high of $229.10. The stock’s 50 day moving average price is $187.51 and its 200-day moving average price is $205.04. The firm has a market capitalization of $56.98 billion, a price-to-earnings ratio of 30.89 and a beta of 0.65.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.02. Simon Property Group had a return on equity of 36.22% and a net margin of 35.37%. The business earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm posted $2.54 EPS. Simon Property Group’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Simon Property Group Inc. will post $10.80 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a $1.65 dividend. The ex-dividend date is Monday, November 14th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.64%. Simon Property Group’s payout ratio is presently 112.25%.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international copyright laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2016/11/29/duff-phelps-investment-management-co-sells-642-shares-of-simon-property-group-inc-spg.html.

SPG has been the topic of several analyst reports. RBC Capital Markets reiterated a “sector perform” rating and set a $216.00 target price (down from $230.00) on shares of Simon Property Group in a report on Tuesday, November 1st. Jefferies Group restated a “buy” rating and set a $255.00 price objective on shares of Simon Property Group in a report on Sunday, October 23rd. Canaccord Genuity restated a “buy” rating on shares of Simon Property Group in a report on Friday, September 16th. BTIG Research began coverage on Simon Property Group in a report on Thursday, August 25th. They set a “buy” rating and a $266.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their price objective on Simon Property Group from $230.00 to $216.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 1st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $236.24.

In other news, SVP Steven K. Broadwater sold 945 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $215.41, for a total value of $203,562.45. Following the completion of the transaction, the senior vice president now directly owns 2,965 shares of the company’s stock, valued at approximately $638,690.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is 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

Receive News & Stock Ratings for Simon Property Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group Inc. and related stocks with our FREE daily email newsletter.