Oppenheimer Asset Management Inc. decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,387 shares of the real estate investment trust’s stock after selling 1,464 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Simon Property Group were worth $3,621,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Logan Capital Management Inc. increased its stake in Simon Property Group by 0.6% during the 1st 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 period. Whitnell & Co. increased its stake in Simon Property Group by 0.4% during the 2nd 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 period. Guardian Life Insurance Co. of America increased its stake in Simon Property Group by 2.6% during the 1st 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 period. Sigma Planning Corp increased its stake in Simon Property Group by 1.1% during the 2nd 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 period. Finally, Stratos Wealth Partners LTD. increased its stake in Simon Property Group by 2.6% during the 2nd 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 period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group, Inc. (NYSE:SPG) opened at 158.19 on Monday. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $219.41. The firm has a 50 day moving average of $159.82 and a 200 day moving average of $164.55. The firm has a market capitalization of $49.17 billion, a PE ratio of 28.19 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. The company 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%. Simon Property Group’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 EPS. Equities analysts forecast that Simon Property Group, Inc. will post $6.33 EPS for the current year.

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

Several equities analysts have commented on the stock. Jefferies Group LLC reissued a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a research note on Monday, July 17th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Argus lowered their target price on shares of 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. Zacks Investment Research raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $182.00 target price on shares of Simon Property Group in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Hold” and a consensus target price of $195.01.

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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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