CCM Investment Advisers LLC decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 16.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,000 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. CCM Investment Advisers LLC’s holdings in Simon Property Group were worth $808,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Norway Savings Bank boosted its position in Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 275 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 50 shares during the last quarter. Alpha Windward LLC boosted its position in 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 valued at $131,000 after buying an additional 30 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in Simon Property Group during the first quarter valued at $138,000. Finally, Israel Discount Bank of New York purchased a new position in Simon Property Group during the first quarter valued at $146,000. 95.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Simon Property Group, Inc. (SPG) opened at 157.89 on Friday. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of 28.14 and a beta of 0.58. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $219.41. The firm has a 50-day moving average price of $160.84 and a 200-day moving average price of $167.22.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $2.63 EPS. Simon Property Group’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 4.56%. The ex-dividend date is Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is currently 124.33%.

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Several equities analysts have recently weighed in on the company. Argus lowered their price target on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. Morgan Stanley reissued an “equal weight” rating and set a $158.00 price target (down from $180.00) on shares of Simon Property Group in a report on Saturday, June 3rd. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, ValuEngine cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Simon Property Group currently 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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