Stanley Laman Group Ltd. cut its stake in Simon Property Group Inc (NYSE:SPG) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,018 shares of the real estate investment trust’s stock after selling 536 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Simon Property Group were worth $1,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. Geode Capital Management LLC raised its holdings in Simon Property Group by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock worth $790,441,000 after purchasing an additional 507,345 shares in the last quarter. Athena Capital Advisors LLC raised its holdings in Simon Property Group by 173,950.8% in the 1st quarter. Athena Capital Advisors LLC now owns 410,760 shares of the real estate investment trust’s stock worth $63,401,000 after purchasing an additional 410,524 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Simon Property Group by 65.5% in the 1st quarter. Janus Henderson Group PLC now owns 765,102 shares of the real estate investment trust’s stock worth $139,410,000 after purchasing an additional 302,677 shares in the last quarter. California Public Employees Retirement System raised its holdings in Simon Property Group by 15.4% in the 1st quarter. California Public Employees Retirement System now owns 1,679,538 shares of the real estate investment trust’s stock worth $306,029,000 after purchasing an additional 224,701 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Simon Property Group by 18.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,050,791 shares of the real estate investment trust’s stock worth $167,874,000 after acquiring an additional 164,694 shares in the last quarter. Institutional investors and hedge funds own 95.20% of the company’s stock.

Shares of Simon Property Group stock traded down $1.72 during trading on Wednesday, hitting $151.32. The company’s stock had a trading volume of 1,041,268 shares, compared to its average volume of 1,435,514. The company has a debt-to-equity ratio of 7.02, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $159.46. The firm has a market capitalization of $47.87 billion, a P/E ratio of 12.47, a PEG ratio of 2.82 and a beta of 0.52. Simon Property Group Inc has a 52 week low of $150.80 and a 52 week high of $191.49.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. Simon Property Group’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $2.98 EPS. As a group, equities research analysts anticipate that Simon Property Group Inc will post 12.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $2.10 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Thursday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is currently 67.60%.

Several research analysts recently issued reports on SPG shares. Citigroup decreased their price target on shares of Simon Property Group from $192.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays reiterated a “buy” rating and issued a $202.00 price target on shares of Simon Property Group in a research note on Tuesday, April 16th. Morgan Stanley decreased their price target on shares of Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. ValuEngine lowered shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $190.62.

In other Simon Property Group news, insider John Rulli sold 9,160 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the sale, the insider now directly owns 29,646 shares in the company, valued at approximately $5,222,735.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.75% of the stock is currently owned by company 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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