Janney Montgomery Scott LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,361 shares of the real estate investment trust’s stock after buying an additional 1,235 shares during the period. Janney Montgomery Scott LLC’s holdings in Simon Property Group were worth $1,676,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of The West increased its position in Simon Property Group by 7.7% in the first quarter. Bank of The West now owns 42,429 shares of the real estate investment trust’s stock worth $7,299,000 after buying an additional 3,034 shares during the period. Duff & Phelps Investment Management Co. increased its position in Simon Property Group by 12.8% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,020,190 shares of the real estate investment trust’s stock worth $175,503,000 after buying an additional 115,615 shares during the period. DnB Asset Management AS increased its position in Simon Property Group by 13.2% in the first quarter. DnB Asset Management AS now owns 33,363 shares of the real estate investment trust’s stock worth $5,739,000 after buying an additional 3,900 shares during the period. Capital Investment Advisors LLC purchased a new position in Simon Property Group during the first quarter worth $1,253,000. Finally, Farmers & Merchants Investments Inc. increased its position in Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares during the period. 95.77% of the stock is currently owned by institutional investors.

Simon Property Group, Inc. (NYSE:SPG) traded down 2.30% during mid-day trading on Friday, hitting $153.58. The company had a trading volume of 2,131,492 shares. The stock has a market capitalization of $47.74 billion, a PE ratio of 27.37 and a beta of 0.58. The stock has a 50 day moving average price of $160.22 and a 200-day moving average price of $166.37. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $219.41.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. Simon Property Group’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 EPS. On average, analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a yield of 4.69%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is presently 127.89%.

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A number of research analysts recently weighed in on the company. Argus dropped their price target on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $158.00 price target (down from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $195.01.

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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