Castle Ridge Investment Management LP purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 41,455 shares of the real estate investment trust’s stock, valued at approximately $6,706,000. Simon Property Group makes up 2.4% of Castle Ridge Investment Management LP’s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of SPG. UBS Asset Management Americas Inc. increased its stake in Simon Property Group by 12.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,884,231 shares of the real estate investment trust’s stock worth $324,144,000 after purchasing an additional 213,373 shares in the last quarter. Baird Financial Group Inc. increased its stake in Simon Property Group by 5.6% in the 1st quarter. Baird Financial Group Inc. now owns 36,806 shares of the real estate investment trust’s stock worth $6,332,000 after purchasing an additional 1,940 shares in the last quarter. Dean Investment Associates LLC purchased a new position in Simon Property Group in the 1st quarter worth about $699,000. 1st Global Advisors Inc. increased its stake in Simon Property Group by 4.9% in the 1st quarter. 1st Global Advisors Inc. now owns 12,299 shares of the real estate investment trust’s stock worth $2,116,000 after purchasing an additional 575 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Simon Property Group by 34.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,423 shares of the real estate investment trust’s stock worth $2,653,000 after purchasing an additional 3,982 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts recently weighed in on SPG shares. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. ValuEngine cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $175.00 to $185.00 in a research note on Tuesday, June 20th. Morgan Stanley reissued an “equal weight” rating and issued a $158.00 price target (down previously from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Simon Property Group in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $193.76.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping 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%. Simon Property Group’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $2.63 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.53%. Simon Property Group’s dividend payout ratio (DPR) is presently 127.89%.

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.

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

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