Profund Advisors LLC increased its stake in shares of Simon Property Group Inc (NYSE:SPG) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,957 shares of the real estate investment trust’s stock after buying an additional 3,805 shares during the quarter. Profund Advisors LLC’s holdings in Simon Property Group were worth $3,987,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bank of Nova Scotia increased its holdings in Simon Property Group by 10.2% during the 2nd quarter. Bank of Nova Scotia now owns 68,908 shares of the real estate investment trust’s stock valued at $11,009,000 after purchasing an additional 6,401 shares in the last quarter. Scotia Capital Inc. increased its holdings in Simon Property Group by 35.1% during the 2nd quarter. Scotia Capital Inc. now owns 9,807 shares of the real estate investment trust’s stock valued at $1,567,000 after purchasing an additional 2,546 shares in the last quarter. Everett Harris & Co. CA increased its holdings in Simon Property Group by 205.4% during the 2nd quarter. Everett Harris & Co. CA now owns 58,749 shares of the real estate investment trust’s stock valued at $9,386,000 after purchasing an additional 39,514 shares in the last quarter. Banco de Sabadell S.A acquired a new stake in Simon Property Group during the 2nd quarter valued at $1,355,000. Finally, MML Investors Services LLC increased its holdings in Simon Property Group by 10.0% during the 2nd quarter. MML Investors Services LLC now owns 5,497 shares of the real estate investment trust’s stock valued at $878,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

Shares of NYSE SPG traded down $1.01 during midday trading on Friday, hitting $154.26. The stock had a trading volume of 54,493 shares, compared to its average volume of 1,516,621. The company’s 50-day simple moving average is $152.82 and its 200 day simple moving average is $167.23. The firm has a market cap of $49.66 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. Simon Property Group Inc has a fifty-two week low of $145.42 and a fifty-two week high of $191.49. The company has a debt-to-equity ratio of 7.02, a current ratio of 0.99 and a quick ratio of 0.99.

Simon Property Group (NYSE:SPG) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.01. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a return on equity of 63.49% and a net margin of 40.48%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $2.98 EPS. Equities analysts expect that Simon Property Group Inc will post 12.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is currently 69.25%.

A number of equities research analysts recently weighed in on the company. SunTrust Banks dropped their price target on Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. ValuEngine cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Morgan Stanley dropped their price target on Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. Finally, Citigroup lowered their target price on Simon Property Group from $192.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Simon Property Group currently has an average rating of “Hold” and a consensus target price of $186.58.

Simon Property Group Company Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Further Reading: Overbought

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

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