Lasalle Investment Management Securities LLC lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,599,590 shares of the real estate investment trust’s stock after selling 394,732 shares during the period. Simon Property Group comprises approximately 11.5% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its largest position. Lasalle Investment Management Securities LLC owned 1.80% of Simon Property Group worth $905,790,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in SPG. Vanguard Group Inc. boosted 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 worth $7,824,213,000 after buying an additional 923,592 shares during the period. BlackRock Inc. boosted 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 worth $5,121,238,000 after buying an additional 28,270,599 shares during the period. State Street Corp boosted its stake in shares of Simon Property Group by 0.7% in the first quarter. State Street Corp now owns 18,280,079 shares of the real estate investment trust’s stock worth $3,144,722,000 after buying an additional 118,826 shares during the period. APG Asset Management US Inc. boosted 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 worth $1,174,141,000 after buying an additional 498,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Simon Property Group by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 5,838,794 shares of the real estate investment trust’s stock worth $944,483,000 after buying an additional 108,510 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group, Inc. (NYSE SPG) opened at 159.04 on Monday. The firm has a market cap of $49.44 billion, a P/E ratio of 28.34 and a beta of 0.58. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $219.41. The firm’s 50-day moving average price is $159.66 and its 200-day moving average price is $165.41.

Simon Property Group (NYSE:SPG) last posted its earnings results 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.63 EPS. Equities research analysts expect that Simon Property Group, Inc. will post $6.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a $1.80 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.53%. Simon Property Group’s dividend payout ratio (DPR) is presently 127.89%.

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A number of brokerages have recently commented on SPG. Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the company a “hold” rating in a research note on Sunday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $200.00 price target (up from $198.00) on shares of Simon Property Group in a research note on Thursday. Argus lowered their price target on Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. BidaskClub cut Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC upped their price target on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price 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.

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

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