Simon Property Group, Inc. (SPG) Position Trimmed by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,197,251 shares of the real estate investment trust’s stock after selling 35,786 shares during the period. Ameriprise Financial Inc. owned approximately 0.39% of Simon Property Group worth $193,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kissinger Financial Services LLC grew its holdings in Simon Property Group by 1.4% during the 2nd quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock valued at $3,566,000 after purchasing an additional 294 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Simon Property Group by 9.7% during the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after purchasing an additional 542,743 shares in the last quarter. Private Advisor Group LLC grew its holdings in Simon Property Group by 16.6% during the 1st quarter. Private Advisor Group LLC now owns 5,150 shares of the real estate investment trust’s stock valued at $877,000 after purchasing an additional 734 shares in the last quarter. Partners Value Investments LP acquired a new stake in Simon Property Group during the 2nd quarter valued at $11,647,000. Finally, Ffcm LLC grew its holdings in Simon Property Group by 6.4% during the 2nd quarter. Ffcm LLC now owns 34,405 shares of the real estate investment trust’s stock valued at $5,565,000 after purchasing an additional 2,074 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Shares of Simon Property Group, Inc. (SPG) opened at 163.99 on Friday. The company has a 50-day moving average of $159.47 and a 200 day moving average of $163.26. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $215.56. The company has a market capitalization of $50.97 billion, a P/E ratio of 29.23 and a beta of 0.58.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were given a dividend of $1.80 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $7.20 annualized dividend and a yield of 4.40%. Simon Property Group’s dividend payout ratio is 127.89%.

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A number of equities research analysts recently weighed in on the stock. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC raised their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Argus decreased their price objective on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, June 29th. Jefferies Group LLC reissued a “buy” rating and set a $190.00 price objective on shares of Simon Property Group in a report on Monday, July 17th. Finally, BidaskClub raised shares of Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price 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.

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

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