Geneva Advisors LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,615 shares of the real estate investment trust’s stock after selling 244 shares during the period. Geneva Advisors LLC’s holdings in Simon Property Group were worth $423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP increased its position in Simon Property Group by 10.0% in the first quarter. First Trust Advisors LP now owns 213,811 shares of the real estate investment trust’s stock valued at $36,782,000 after buying an additional 19,447 shares during the period. Elkhorn Investments LLC acquired a new position in Simon Property Group during the first quarter valued at approximately $989,000. State Treasurer State of Michigan increased its position in Simon Property Group by 2.2% in the first quarter. State Treasurer State of Michigan now owns 105,098 shares of the real estate investment trust’s stock valued at $18,080,000 after buying an additional 2,300 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Simon Property Group by 211.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 14,584 shares of the real estate investment trust’s stock valued at $2,509,000 after buying an additional 9,899 shares during the period. Finally, OLD National Bancorp IN increased its position in Simon Property Group by 5.7% in the first quarter. OLD National Bancorp IN now owns 1,840 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 100 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Simon Property Group, Inc. (NYSE:SPG) opened at 157.02 on Thursday. The company has a market cap of $48.81 billion, a PE ratio of 27.98 and a beta of 0.58. The company has a 50-day moving average of $159.66 and a 200 day moving average of $165.41. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $219.41.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $2.63 EPS. Simon Property Group’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts expect that Simon Property Group, Inc. will post $6.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a dividend of $1.80 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $7.20 annualized dividend and a yield of 4.59%. Simon Property Group’s dividend payout ratio is 127.89%.

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Several research analysts have commented on the stock. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC lifted their price target on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Argus decreased their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, June 29th. BidaskClub raised shares of Simon Property Group from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $190.00 price target on shares of Simon Property Group in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $195.01.

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.

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

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