BT Investment Management Ltd bought a new position in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 102,496 shares of the real estate investment trust’s stock, valued at approximately $16,580,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SPG. UBS Asset Management Americas Inc. boosted its position in shares of Simon Property Group by 12.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,884,231 shares of the real estate investment trust’s stock worth $324,144,000 after buying an additional 213,373 shares during the period. Main Street Research LLC boosted its position in shares of Simon Property Group by 16.3% in the first quarter. Main Street Research LLC now owns 1,566 shares of the real estate investment trust’s stock worth $269,000 after buying an additional 220 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Simon Property Group in the first quarter worth about $15,296,000. Sei Investments Co. boosted its position in shares of Simon Property Group by 4.0% in the first quarter. Sei Investments Co. now owns 656,112 shares of the real estate investment trust’s stock worth $112,871,000 after buying an additional 25,241 shares during the period. Finally, Capital Analysts LLC boosted its position in shares of Simon Property Group by 11.5% in the first quarter. Capital Analysts LLC now owns 6,830 shares of the real estate investment trust’s stock worth $1,175,000 after buying an additional 702 shares during the period. 95.16% of the stock is owned by institutional investors.

SPG has been the subject of several analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $190.00 target price on shares of Simon Property Group in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Argus decreased their target price 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. Mizuho raised Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 target price for the company in a research report on Tuesday, May 30th. Finally, Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $193.76.

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Shares of Simon Property Group, Inc. (NYSE SPG) traded up 0.62% during mid-day trading on Friday, reaching $164.77. The company’s stock had a trading volume of 2,811,561 shares. The company has a 50 day moving average price of $159.43 and a 200 day moving average price of $163.10. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $215.56. The stock has a market capitalization of $51.22 billion, a P/E ratio of 29.37 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business earned $2.63 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Simon Property Group, Inc. will post $6.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were given a dividend of $1.80 per share. The ex-dividend date was Tuesday, August 15th. 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 4.37%. Simon Property Group’s dividend payout ratio (DPR) is 127.89%.

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.

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

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