Pacer Advisors Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 153.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,630 shares of the real estate investment trust’s stock after buying an additional 11,291 shares during the period. Pacer Advisors Inc.’s holdings in Simon Property Group were worth $3,014,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Logan Capital Management Inc. raised its stake in Simon Property Group by 0.6% in the first quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 15 shares during the last quarter. Whitnell & Co. raised its stake in Simon Property Group by 0.4% in the second quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock valued at $868,000 after buying an additional 21 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in Simon Property Group by 2.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 31 shares during the last quarter. Sigma Planning Corp raised its stake in Simon Property Group by 1.1% in the second quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock valued at $620,000 after buying an additional 40 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in Simon Property Group by 2.6% in the second quarter. Stratos Wealth Partners LTD. now owns 1,760 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.

Shares of Simon Property Group, Inc. (SPG) opened at 159.04 on Friday. The company has a 50-day moving average of $159.66 and a 200-day moving average of $165.41. The company has a market cap of $49.44 billion, a PE ratio of 28.34 and a beta of 0.58. 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 earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. The business had revenue of $1.36 billion for 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 period last year, the firm posted $2.63 earnings per share. Equities analysts forecast that Simon Property Group, Inc. will post $6.33 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors 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. This represents a $7.20 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Tuesday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is currently 127.89%.

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Several equities research analysts recently issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $200.00 price objective (up previously from $198.00) on shares of Simon Property Group in a research note on Thursday. Argus cut their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. BidaskClub lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Barclays PLC boosted their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus 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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