Adirondack Trust Co. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 937 shares of the real estate investment trust’s stock after selling 35 shares during the period. Adirondack Trust Co.’s holdings in Simon Property Group were worth $152,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. HPM Partners LLC acquired a new stake in Simon Property Group during the first quarter valued at $2,755,000. Kissinger Financial Services LLC boosted 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 valued at $3,566,000 after buying an additional 294 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Simon Property Group during the first quarter valued at $224,000. Private Advisor Group LLC boosted 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 valued at $877,000 after buying an additional 734 shares during the last quarter. Finally, United Services Automobile Association boosted 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 valued at $22,521,000 after buying an additional 617 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Shares of Simon Property Group, Inc. (NYSE SPG) opened at 161.15 on Friday. The firm has a market capitalization of $50.09 billion, a P/E ratio of 28.72 and a beta of 0.58. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $219.41. The company has a 50-day moving average price of $160.87 and a 200-day moving average price of $167.42.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned $2.63 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts predict that Simon Property Group, Inc. will post $6.43 EPS 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 given a $1.80 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.47%. Simon Property Group’s payout ratio is presently 124.33%.

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Several equities research analysts have weighed in on SPG shares. Vetr upgraded Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 target price for the company in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) upgraded Simon Property Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $175.00 to $185.00 in a research note on Tuesday, June 20th. Stifel Nicolaus started coverage on Simon Property Group in a research note on Friday, July 14th. They set a “hold” rating and a $170.00 target price for the company. ValuEngine cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Barclays PLC restated an “overweight” rating and set a $191.00 target price (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 assigned a hold rating and eleven have assigned a buy rating to the stock. Simon Property Group has an average 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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