Keybank National Association OH decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 38.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,756 shares of the real estate investment trust’s stock after selling 5,485 shares during the period. Keybank National Association OH’s holdings in Simon Property Group were worth $1,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Simon Property Group by 2.1% during 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 purchasing an additional 923,592 shares during the last quarter. BlackRock Inc. boosted its position in Simon Property Group by 1,886.1% during 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 purchasing an additional 28,270,599 shares during the last quarter. State Street Corp boosted its position in Simon Property Group by 0.7% during the first quarter. State Street Corp now owns 18,280,079 shares of the real estate investment trust’s stock valued at $3,144,722,000 after purchasing an additional 118,826 shares during the last quarter. APG Asset Management US Inc. boosted its position in Simon Property Group by 7.4% during 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 purchasing an additional 498,800 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Simon Property Group by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 5,838,794 shares of the real estate investment trust’s stock valued at $944,483,000 after purchasing an additional 108,510 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group, Inc. (NYSE:SPG) opened at 158.19 on Monday. The stock has a 50 day moving average price of $159.82 and a 200-day moving average price of $164.55. The company has a market capitalization of $49.17 billion, a price-to-earnings ratio of 28.19 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 posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 earnings per share. Equities analysts predict that Simon Property Group, Inc. will post $6.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were paid a dividend of $1.80 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $7.20 annualized dividend and a yield of 4.55%. Simon Property Group’s payout ratio is presently 127.89%.

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Several equities analysts have weighed in on SPG shares. Mizuho upgraded Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 target price on the stock in a report on Tuesday, May 30th. Stifel Nicolaus started coverage on Simon Property Group in a report on Friday, July 14th. They set a “hold” rating and a $170.00 target price on the stock. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Barclays PLC raised their target price on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $195.01.

Simon Property Group 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.

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

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