Schwab Charles Investment Management Inc. raised its position in Simon Property Group, Inc. (NYSE:SPG) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,669,513 shares of the real estate investment trust’s stock after buying an additional 165,240 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Simon Property Group were worth $431,821,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Logan Capital Management Inc. raised its stake in shares of 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 buying an additional 15 shares in the last quarter. Whitnell & Co. increased its position in shares of 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 buying an additional 21 shares during the last quarter. Lederer & Associates Investment Counsel CA increased its position in shares of Simon Property Group by 1.0% in the first quarter. Lederer & Associates Investment Counsel CA now owns 2,550 shares of the real estate investment trust’s stock worth $439,000 after buying an additional 25 shares during the last quarter. Alpha Windward LLC increased its position in shares of Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares during the last quarter. Finally, Guardian Life Insurance Co. of America increased its position in shares of 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 buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.

Shares of Simon Property Group, Inc. (NYSE SPG) opened at 163.41 on Thursday. The firm has a 50-day moving average price of $160.80 and a 200 day moving average price of $167.46. The stock has a market capitalization of $50.79 billion, a PE ratio of 29.12 and a beta of 0.58. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $219.41.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.63 earnings per share. On average, equities analysts expect that Simon Property Group, Inc. will post $6.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a $1.80 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.41%. This is an increase 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 analyst reports. Deutsche Bank AG boosted their price target on Simon Property Group from $188.00 to $191.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Barclays PLC reissued an “overweight” rating and issued a $191.00 price target (down from $200.00) on shares of Simon Property Group in a report on Monday, May 15th. Vetr raised Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price target for the company in a report on Wednesday, April 26th. Finally, ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Buy” and a consensus 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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