Eaton Vance Management lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 110.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,545,545 shares of the real estate investment trust’s stock after purchasing an additional 811,457 shares during the quarter. Eaton Vance Management owned about 0.50% of Simon Property Group worth $250,007,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kissinger Financial Services LLC increased its holdings in shares of Simon Property Group by 1.4% in the second quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock valued at $3,566,000 after purchasing an additional 294 shares during the last quarter. HPM Partners LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $2,755,000. Principal Financial Group Inc. increased its holdings in shares of Simon Property Group by 9.7% in the second quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after purchasing an additional 542,743 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Simon Property Group by 16.6% in the first quarter. Private Advisor Group LLC now owns 5,150 shares of the real estate investment trust’s stock valued at $877,000 after purchasing an additional 734 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Simon Property Group by 0.5% in the first quarter. United Services Automobile Association now owns 130,911 shares of the real estate investment trust’s stock valued at $22,521,000 after purchasing an additional 617 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Eaton Vance Management Buys 811,457 Shares of Simon Property Group, Inc. (SPG)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/07/eaton-vance-management-buys-811457-shares-of-simon-property-group-inc-spg.html.

Simon Property Group, Inc. (NYSE:SPG) traded up 0.1448% on Thursday, hitting $158.9599. The stock had a trading volume of 279,251 shares. The company’s 50-day moving average price is $159.61 and its 200 day moving average price is $164.01. The firm has a market cap of $49.41 billion, a price-to-earnings ratio of 28.3300 and a beta of 0.58. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $218.58.

Simon Property Group (NYSE:SPG) last announced 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 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 company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.63 EPS. Analysts expect that Simon Property Group, Inc. will post $6.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were issued a $1.80 dividend. 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 dividend on an annualized basis and a dividend yield of 4.54%. Simon Property Group’s payout ratio is 127.89%.

Several research firms recently commented on SPG. Jefferies Group LLC reaffirmed a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a report on Monday, July 17th. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Argus lowered their price objective on Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, June 29th. Zacks Investment Research upgraded Simon Property Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $182.00 price objective on shares of Simon Property Group in a research report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price 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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG).

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

Receive News & Stock Ratings for Simon Property Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group Inc. and related stocks with our FREE daily email newsletter.