New York State Common Retirement Fund cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 815,000 shares of the real estate investment trust’s stock after selling 42,397 shares during the period. New York State Common Retirement Fund owned about 0.26% of Simon Property Group worth $131,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kissinger Financial Services LLC grew 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 worth $3,566,000 after purchasing an additional 294 shares during the last quarter. Principal Financial Group Inc. grew 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 worth $988,797,000 after purchasing an additional 542,743 shares during the last quarter. Partners Value Investments LP bought a new position in shares of Simon Property Group in the second quarter worth about $11,647,000. Private Advisor Group LLC grew 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 worth $877,000 after purchasing an additional 734 shares during the last quarter. Finally, Ffcm LLC grew its holdings in shares of Simon Property Group by 6.4% in the second quarter. Ffcm LLC now owns 34,405 shares of the real estate investment trust’s stock worth $5,565,000 after purchasing an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

A number of research analysts have recently commented on SPG shares. Mizuho upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target on the stock in a report on Tuesday, May 30th. Stifel Nicolaus started coverage on shares of Simon Property Group in a report on Friday, July 14th. They issued a “hold” rating and a $170.00 price target on the stock. Zacks Investment Research cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Barclays PLC increased their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $193.76.

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Simon Property Group, Inc. (SPG) traded down 1.48% during mid-day trading on Monday, hitting $162.33. 371,182 shares of the stock were exchanged. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $215.56. The company has a 50 day moving average of $159.43 and a 200 day moving average of $163.10. The firm has a market cap of $50.46 billion, a P/E ratio of 28.93 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $2.63 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Simon Property Group, Inc. will post $6.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders 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 dividend yield of 4.37%. Simon Property Group’s payout ratio is currently 127.89%.

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.

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

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