Huntington National Bank held its position in Simon Property Group Inc. (NYSE:SPG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,724 shares of the real estate investment trust’s stock at the end of the second quarter. Huntington National Bank’s holdings in Simon Property Group were worth $9,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its position in Simon Property Group by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,063,420 shares of the real estate investment trust’s stock worth $2,713,142,000 after buying an additional 82,646 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Simon Property Group by 7.8% in the second quarter. Daiwa Securities Group Inc. now owns 8,296,851 shares of the real estate investment trust’s stock worth $1,799,587,000 after buying an additional 600,445 shares during the last quarter. BlackRock Fund Advisors boosted its position in Simon Property Group by 1.8% in the first quarter. BlackRock Fund Advisors now owns 7,159,611 shares of the real estate investment trust’s stock worth $1,486,980,000 after buying an additional 126,665 shares during the last quarter. BlackRock Group LTD boosted its position in Simon Property Group by 5.2% in the first quarter. BlackRock Group LTD now owns 4,807,897 shares of the real estate investment trust’s stock worth $998,552,000 after buying an additional 237,608 shares during the last quarter. Finally, PGGM Investments boosted its position in Simon Property Group by 2.4% in the first quarter. PGGM Investments now owns 3,938,506 shares of the real estate investment trust’s stock worth $817,988,000 after buying an additional 93,881 shares during the last quarter. Hedge funds and other institutional investors own 98.86% of the company’s stock.

Simon Property Group Inc. (NYSE:SPG) traded up 0.41% during trading on Monday, hitting $209.59. 960,077 shares of the company traded hands. The stock has a market capitalization of $65.86 billion, a PE ratio of 37.23 and a beta of 0.76. The company’s 50 day moving average is $215.23 and its 200-day moving average is $209.21. Simon Property Group Inc. has a 52 week low of $176.11 and a 52 week high of $229.10.

Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, July 27th. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.01. The company earned $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Simon Property Group had a net margin of 34.03% and a return on equity of 34.61%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 earnings per share. Analysts predict that Simon Property Group Inc. will post $10.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were issued a dividend of $1.65 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $6.60 annualized dividend and a yield of 3.15%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.60. Simon Property Group’s payout ratio is currently 117.23%.

A number of research analysts have weighed in on SPG shares. Goldman Sachs Group Inc. cut shares of Simon Property Group from a “conviction-buy” rating to a “buy” rating and dropped their target price for the company from $243.00 to $236.00 in a research note on Monday, June 13th. RBC Capital Markets cut shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $220.00 to $230.00 in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Mizuho restated a “buy” rating on shares of Simon Property Group in a research note on Thursday, May 26th. Finally, Argus set a $245.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research note on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Simon Property Group has a consensus rating of “Buy” and a consensus target price of $236.00.

In other Simon Property Group news, SVP Steven K. Broadwater sold 945 shares of Simon Property Group stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $215.41, for a total transaction of $203,562.45. Following the transaction, the senior vice president now owns 2,965 shares of the company’s stock, valued at $638,690.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Juster sold 7,000 shares of Simon Property Group stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $215.68, for a total transaction of $1,509,760.00. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

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.

5 Day Chart for NYSE:SPG

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