Rhumbline Advisers boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 629,764 shares of the real estate investment trust’s stock after buying an additional 10,534 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Simon Property Group worth $101,398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SPG. Norway Savings Bank lifted its stake in Simon Property Group by 19.5% in the 2nd quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 125 shares in the last quarter. Orrstown Financial Services Inc. lifted its stake in Simon Property Group by 3.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 3,693 shares of the real estate investment trust’s stock worth $597,000 after purchasing an additional 133 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Simon Property Group by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 98,432 shares of the real estate investment trust’s stock worth $15,838,000 after purchasing an additional 375 shares in the last quarter. Alpha Windward LLC lifted its stake in Simon Property Group by 12.2% in the 2nd quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 93 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in Simon Property Group by 7.7% in the 2nd quarter. Aperio Group LLC now owns 95,758 shares of the real estate investment trust’s stock worth $15,490,000 after purchasing an additional 6,843 shares in the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on SPG shares. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research note on Wednesday, October 11th. Jefferies Group LLC reissued a “buy” rating and issued a $190.00 target price on shares of Simon Property Group in a research note on Monday, July 17th. Argus decreased their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $191.45.

Simon Property Group, Inc. (NYSE:SPG) traded down $3.44 during trading on Monday, reaching $160.31. 2,935,611 shares of the company traded hands, compared to its average volume of 1,821,617. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $189.25. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $51,640.00, a P/E ratio of 14.87, a PEG ratio of 2.20 and a beta of 0.60.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $2.70 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. research analysts predict that Simon Property Group, Inc. will post 11.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be issued a $1.85 dividend. This represents a $7.40 annualized dividend and a yield of 4.62%. The ex-dividend date is Wednesday, November 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio (DPR) is 127.21%.

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About Simon Property Group

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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