Teacher Retirement System of Texas increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 215,159 shares of the real estate investment trust’s stock after buying an additional 4,549 shares during the period. Teacher Retirement System of Texas’ holdings in Simon Property Group were worth $34,804,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Simon Property Group by 29.5% in the first quarter. State of Alaska Department of Revenue now owns 148,021 shares of the real estate investment trust’s stock valued at $25,463,000 after buying an additional 33,690 shares during the last quarter. Lederer & Associates Investment Counsel CA raised its stake in 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 valued at $439,000 after buying an additional 25 shares during the last quarter. Whitnell & Co. raised its stake in Simon Property Group by 6.4% in the first quarter. Whitnell & Co. now owns 5,342 shares of the real estate investment trust’s stock valued at $919,000 after buying an additional 322 shares during the last quarter. Bank of The West raised its stake in Simon Property Group by 7.7% in the first quarter. Bank of The West now owns 42,429 shares of the real estate investment trust’s stock valued at $7,299,000 after buying an additional 3,034 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in Simon Property Group by 12.8% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,020,190 shares of the real estate investment trust’s stock valued at $175,503,000 after buying an additional 115,615 shares during the last quarter. 95.64% of the stock is owned by institutional investors and hedge funds.

Shares of Simon Property Group, Inc. (NYSE SPG) opened at 161.15 on Friday. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $219.41. The stock has a market capitalization of $50.09 billion, a P/E ratio of 28.72 and a beta of 0.58. The stock 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 announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the 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 business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.63 earnings per share. Equities analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The company also recently announced 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 represents a $7.20 annualized dividend and a yield of 4.47%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is presently 124.33%.

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Several research firms have recently issued reports on SPG. Jefferies Group LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Simon Property Group in a research note on Monday, April 17th. Barclays PLC lowered their price objective on Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Vetr lowered Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price objective for the company. in a research note on Tuesday, May 2nd. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Argus lowered their price objective on Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target 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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