Westpac Banking Corp boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 421,486 shares of the real estate investment trust’s stock after purchasing an additional 11,141 shares during the period. Simon Property Group comprises approximately 1.5% of Westpac Banking Corp’s investment portfolio, making the stock its 2nd biggest holding. Westpac Banking Corp owned approximately 0.14% of Simon Property Group worth $67,863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital World Investors increased its holdings in Simon Property Group by 25.4% in the second quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock valued at $3,362,667,000 after buying an additional 4,210,000 shares in the last quarter. Eaton Vance Management increased its holdings in Simon Property Group by 110.5% in the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after buying an additional 811,457 shares in the last quarter. Uniplan Investment Counsel Inc. increased its holdings in Simon Property Group by 118.1% in the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock valued at $88,381,000 after buying an additional 714,159 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in Simon Property Group by 28.4% in the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock valued at $505,406,000 after buying an additional 690,169 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Simon Property Group by 9.7% in the second 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 buying an additional 542,743 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

Simon Property Group, Inc. (NYSE:SPG) traded up 0.89% during trading on Wednesday, reaching $156.72. 525,870 shares of the company were exchanged. The firm has a market capitalization of $48.72 billion, a PE ratio of 27.93 and a beta of 0.60. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $189.25. The stock has a 50 day moving average price of $161.84 and a 200 day moving average price of $160.75.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted $2.70 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is 126.98%.

A number of research analysts have weighed in on SPG shares. Zacks Investment Research cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus started coverage on shares of Simon Property Group in a report on Friday, July 14th. They issued a “hold” rating and a $170.00 price objective for the company. BidaskClub raised shares of Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a report on Monday, July 17th. Finally, Barclays PLC cut their price objective on shares of Simon Property Group from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $191.79.

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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.

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

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