Cornerstone Capital Management Holdings LLC. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,785 shares of the real estate investment trust’s stock after acquiring an additional 10,521 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Simon Property Group were worth $23,420,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Logan Capital Management Inc. raised its position in Simon Property Group by 0.6% in the first quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 15 shares in the last quarter. Whitnell & Co. raised its position in Simon Property Group by 0.4% in the second quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock worth $868,000 after acquiring an additional 21 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Simon Property Group by 2.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 31 shares in the last quarter. Sigma Planning Corp raised its position in Simon Property Group by 1.1% in the second quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock worth $620,000 after acquiring an additional 40 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Simon Property Group by 2.6% in the second quarter. Stratos Wealth Partners LTD. now owns 1,760 shares of the real estate investment trust’s stock worth $285,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

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Simon Property Group, Inc. (NYSE SPG) traded down 0.48% during mid-day trading on Friday, hitting $160.49. The company had a trading volume of 280,260 shares. The company’s 50 day moving average price is $159.02 and its 200-day moving average price is $161.73. The company has a market cap of $49.89 billion, a PE ratio of 28.60 and a beta of 0.60. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $200.30.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.

Several research firms have issued reports on SPG. Argus cut their price objective on Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, June 29th. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus set a $170.00 price objective on Simon Property Group and gave the stock a “hold” rating in a research report on Sunday, August 27th. BidaskClub upgraded Simon Property Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Goldman Sachs Group, Inc. (The) upgraded Simon Property Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $193.76.

Simon Property Group 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.

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

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