HL Financial Services LLC raised its position in Simon Property Group, Inc. (NYSE:SPG) by 195.5% during the second quarter, Holdings Channel reports. The firm owned 5,881 shares of the real estate investment trust’s stock after buying an additional 3,891 shares during the period. HL Financial Services LLC’s holdings in Simon Property Group were worth $951,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SPG. HPM Partners LLC acquired a new stake in Simon Property Group during the first quarter worth $2,755,000. Kissinger Financial Services LLC raised its stake in 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 buying an additional 294 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Simon Property Group during the first quarter worth $224,000. Private Advisor Group LLC raised its stake in 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 buying an additional 734 shares during the period. Finally, United Services Automobile Association raised its stake in Simon Property Group by 0.5% in the first quarter. United Services Automobile Association now owns 130,911 shares of the real estate investment trust’s stock worth $22,521,000 after buying an additional 617 shares during the period. 95.64% of the stock is owned by institutional investors.

Shares of Simon Property Group, Inc. (NYSE:SPG) opened at 157.89 on Friday. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $219.41. The firm’s 50 day moving average is $160.84 and its 200 day moving average is $167.22. The stock has a market capitalization of $49.08 billion, a price-to-earnings ratio of 28.14 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business earned $2.63 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts expect that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a $1.80 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a yield of 4.56%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s payout ratio is currently 124.33%.

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SPG has been the subject of a number of research reports. Vetr raised shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective for the company in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $185.00 in a research note on Tuesday, June 20th. Stifel Nicolaus initiated coverage on shares of Simon Property Group in a research note on Friday, July 14th. They issued a “hold” rating and a $170.00 price objective for the company. ValuEngine lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $191.00 price objective (down from $200.00) on shares of Simon Property Group in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $195.01.

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.

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

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