Teachers Insurance & Annuity Association of America lessened its stake in shares of Simon Property Group Inc (NYSE:SPG) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,900 shares of the real estate investment trust’s stock after selling 9,833 shares during the period. Simon Property Group makes up about 4.7% of Teachers Insurance & Annuity Association of America’s investment portfolio, making the stock its 3rd largest holding. Teachers Insurance & Annuity Association of America owned 0.12% of Simon Property Group worth $67,719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SPG. Dynamic Advisor Solutions LLC increased its holdings in shares of Simon Property Group by 2.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 11,601 shares of the real estate investment trust’s stock worth $1,974,000 after purchasing an additional 285 shares in the last quarter. Garland Capital Management Inc. boosted its stake in shares of Simon Property Group by 1.5% in the 2nd quarter. Garland Capital Management Inc. now owns 21,690 shares of the real estate investment trust’s stock worth $3,691,000 after buying an additional 320 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Simon Property Group by 2.0% in the 2nd quarter. Alps Advisors Inc. now owns 16,519 shares of the real estate investment trust’s stock worth $2,837,000 after buying an additional 320 shares during the last quarter. Bogart Wealth LLC boosted its stake in shares of Simon Property Group by 3.2% in the 2nd quarter. Bogart Wealth LLC now owns 11,163 shares of the real estate investment trust’s stock worth $1,899,000 after buying an additional 341 shares during the last quarter. Finally, HL Financial Services LLC boosted its stake in shares of Simon Property Group by 7.1% in the 2nd quarter. HL Financial Services LLC now owns 5,459 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 364 shares during the last quarter. 92.57% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on SPG. Wells Fargo & Co raised their price target on Simon Property Group from $175.00 to $183.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. BMO Capital Markets restated a “buy” rating and issued a $175.00 price target on shares of Simon Property Group in a research note on Monday, July 30th. Mizuho restated a “buy” rating and issued a $188.00 price target on shares of Simon Property Group in a research note on Wednesday, August 1st. ValuEngine upgraded Simon Property Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, Barclays raised their price target on Simon Property Group from $184.00 to $192.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 17th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Simon Property Group presently has a consensus rating of “Buy” and a consensus price target of $187.69.

NYSE SPG traded up $0.89 on Friday, hitting $177.68. 11,335 shares of the company traded hands, compared to its average volume of 1,688,518. The company has a market capitalization of $55.86 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.38 and a beta of 0.57. The company has a debt-to-equity ratio of 6.13, a quick ratio of 1.13 and a current ratio of 1.13. Simon Property Group Inc has a 52-week low of $145.78 and a 52-week high of $179.45.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.13. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. Simon Property Group’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. sell-side analysts forecast that Simon Property Group Inc will post 12.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be given a dividend of $2.00 per share. The ex-dividend date is Thursday, August 16th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.94. This represents a $8.00 annualized dividend and a yield of 4.50%. Simon Property Group’s payout ratio is 69.58%.

In related news, insider John Rulli sold 1,330 shares of Simon Property Group stock in a transaction on Monday, August 6th. The stock was sold at an average price of $177.05, for a total transaction of $235,476.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Steven K. Broadwater sold 859 shares of Simon Property Group stock in a transaction on Friday, June 29th. The shares were sold at an average price of $170.28, for a total value of $146,270.52. Following the transaction, the chief accounting officer now owns 1,734 shares in the company, valued at $295,265.52. The disclosure for this sale can be found here. 8.64% of the stock is currently owned by insiders.

Simon Property Group Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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

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