National Pension Service raised its position in Simon Property Group Inc. (NYSE:SPG) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,204 shares of the real estate investment trust’s stock after buying an additional 15,982 shares during the period. National Pension Service owned about 0.06% of Simon Property Group worth $41,237,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SPG. Financial Management Professionals Inc. raised its stake in shares of Simon Property Group by 14.2% in the second quarter. Financial Management Professionals Inc. now owns 475 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 59 shares in the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of 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 worth $110,000 after buying an additional 425 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in shares of Simon Property Group by 3.3% in the second quarter. Reilly Financial Advisors LLC now owns 506 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Simon Property Group by 42.8% in the second quarter. Mycio Wealth Partners LLC now owns 524 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 157 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Simon Property Group by 28.8% in the second quarter. Global X Management Co. LLC now owns 563 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 126 shares in 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) traded up 1.28% during mid-day trading on Tuesday, hitting $183.65. The company had a trading volume of 115,905 shares. The firm has a 50-day moving average price of $187.51 and a 200 day moving average price of $205.04. The firm has a market capitalization of $57.71 billion, a P/E ratio of 31.28 and a beta of 0.65. Simon Property Group Inc. has a 12 month low of $174.91 and a 12 month high of $229.10.

Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share for the quarter, beating the 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $2.54 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Simon Property Group Inc. will post $10.80 earnings per share for the current fiscal year.

The firm also recently declared 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 annualized dividend and a dividend yield of 3.64%. Simon Property Group’s dividend payout ratio is currently 112.25%.

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SPG has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on Simon Property Group from $232.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Royal Bank Of Canada lowered Simon Property Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $220.00 to $230.00 in a research report on Tuesday, August 2nd. RBC Capital Markets lowered Simon Property Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $220.00 to $230.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Vetr raised Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 price target for the company in a report on Tuesday, August 2nd. Finally, Mizuho downgraded Simon Property Group from a “buy” rating to a “neutral” rating and set a $238.00 price target for the company. in a report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Simon Property Group has a consensus rating of “Buy” and an average target price of $236.24.

In other news, SVP Steven K. Broadwater sold 945 shares of the firm’s 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 sale, the senior vice president now directly owns 2,965 shares of the company’s stock, valued at approximately $638,690.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by insiders.

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.

5 Day Chart for NYSE:SPG

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