Adell Harriman & Carpenter Inc. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,782 shares of the real estate investment trust’s stock after selling 3,893 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Simon Property Group were worth $3,038,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Simon Property Group by 1,886.1% in the first quarter. BlackRock Inc. now owns 29,769,454 shares of the real estate investment trust’s stock valued at $5,121,238,000 after buying an additional 28,270,599 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Simon Property Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 45,481,675 shares of the real estate investment trust’s stock valued at $7,824,213,000 after buying an additional 923,592 shares during the last quarter. PGGM Investments raised its stake in shares of Simon Property Group by 31.8% in the first quarter. PGGM Investments now owns 3,473,850 shares of the real estate investment trust’s stock valued at $597,606,000 after buying an additional 839,043 shares during the last quarter. APG Asset Management US Inc. raised its stake in shares of Simon Property Group by 7.4% in the second quarter. APG Asset Management US Inc. now owns 7,258,540 shares of the real estate investment trust’s stock valued at $1,174,141,000 after buying an additional 498,800 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Simon Property Group by 73.2% in the first quarter. Renaissance Technologies LLC now owns 1,074,905 shares of the real estate investment trust’s stock valued at $184,916,000 after buying an additional 454,400 shares during the last quarter. Hedge funds and other institutional investors own 95.77% of the company’s stock.

Shares of Simon Property Group, Inc. (SPG) opened at 153.58 on Friday. The company’s 50 day moving average is $160.22 and its 200 day moving average is $166.37. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $219.41. The company has a market cap of $47.74 billion, a P/E ratio of 27.37 and a beta of 0.58.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be paid a $1.80 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 annualized dividend and a dividend yield of 4.69%. Simon Property Group’s dividend payout ratio (DPR) is presently 127.89%.

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Several equities research analysts have issued reports on SPG shares. Deutsche Bank AG lifted their price target on shares of Simon Property Group from $188.00 to $191.00 and gave the company a “hold” rating in a research note on Monday, May 22nd. Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating and issued a $191.00 price target (down from $200.00) on shares of Simon Property Group in a research note on Monday, May 15th. Vetr upgraded shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price target on the stock in a research note on Wednesday, April 26th. Finally, ValuEngine lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Simon Property Group has a consensus rating of “Hold” and a consensus price target of $195.01.

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.

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

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