Putnam Investments LLC trimmed its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 8.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,025 shares of the real estate investment trust’s stock after selling 1,357 shares during the period. Putnam Investments LLC’s holdings in Simon Property Group were worth $2,557,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. HPM Partners LLC boosted its stake in Simon Property Group by 11.3% in the 2nd quarter. HPM Partners LLC now owns 6,228 shares of the real estate investment trust’s stock worth $1,060,000 after purchasing an additional 631 shares during the period. Worldquant Millennium Quantitative Strategies LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $5,502,000. Zurich Insurance Group Ltd FI boosted its stake in shares of Simon Property Group by 6.1% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 69,294 shares of the real estate investment trust’s stock valued at $11,793,000 after buying an additional 4,007 shares during the period. Banco de Sabadell S.A acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $786,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $5,471,000. 93.84% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Royal Bank of Canada lifted their target price on shares of Simon Property Group to $183.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 21st. Mizuho reissued a “buy” rating and set a $188.00 target price on shares of Simon Property Group in a research note on Wednesday, August 1st. Citigroup lifted their target price on shares of Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Finally, Wells Fargo & Co lifted their target price on shares of Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Simon Property Group currently has a consensus rating of “Buy” and an average price target of $189.29.

Shares of NYSE:SPG opened at $176.99 on Wednesday. The firm has a market cap of $57.81 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.48 and a beta of 0.52. Simon Property Group Inc has a 12-month low of $145.78 and a 12-month high of $186.03. The company has a debt-to-equity ratio of 6.13, a current ratio of 1.13 and a quick ratio of 1.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.13. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 40.11% and a return on equity of 55.59%. Simon Property Group’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. equities analysts forecast that Simon Property Group Inc will post 12.12 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.52%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.94. Simon Property Group’s dividend payout ratio (DPR) is currently 71.36%.

In other news, CAO Steven K. Broadwater sold 859 shares of the firm’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $170.28, for a total transaction of $146,270.52. Following the transaction, the chief accounting officer now owns 1,734 shares in the company, valued at approximately $295,265.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Rulli sold 1,330 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $177.05, for a total transaction of $235,476.50. The disclosure for this sale can be found here. 8.64% of the stock is currently owned by company insiders.

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.

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

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