Qube Research & Technologies Ltd trimmed its position in Simon Property Group Inc (NYSE:SPG) by 42.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,646 shares of the real estate investment trust’s stock after selling 4,093 shares during the period. Qube Research & Technologies Ltd’s holdings in Simon Property Group were worth $902,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Northern Trust Corp boosted its stake in Simon Property Group by 2.6% in the first quarter. Northern Trust Corp now owns 5,944,106 shares of the real estate investment trust’s stock valued at $1,083,076,000 after acquiring an additional 149,589 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Simon Property Group by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock valued at $790,441,000 after buying an additional 507,345 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Simon Property Group by 4.0% during the 1st quarter. Nordea Investment Management AB now owns 2,117,655 shares of the real estate investment trust’s stock valued at $385,853,000 after buying an additional 80,473 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Simon Property Group by 15.4% during the 1st quarter. California Public Employees Retirement System now owns 1,679,538 shares of the real estate investment trust’s stock valued at $306,029,000 after buying an additional 224,701 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Simon Property Group by 11.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,476,322 shares of the real estate investment trust’s stock valued at $235,857,000 after buying an additional 146,188 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

NYSE SPG traded up $1.58 on Monday, hitting $150.19. The stock had a trading volume of 9,321 shares, compared to its average volume of 1,756,942. Simon Property Group Inc has a 52-week low of $147.21 and a 52-week high of $191.49. The company has a debt-to-equity ratio of 7.02, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $45.77 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52. The firm has a 50-day moving average of $158.75 and a 200-day moving average of $171.37.

Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.01. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company posted $2.98 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts anticipate that Simon Property Group Inc will post 12.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $2.10 dividend. The ex-dividend date is Thursday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 5.59%. Simon Property Group’s dividend payout ratio is currently 69.25%.

A number of brokerages recently commented on SPG. ValuEngine cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Citigroup dropped their price target on shares of Simon Property Group from $192.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Morgan Stanley dropped their price target on shares of Simon Property Group from $180.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Deutsche Bank dropped their price target on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating on the stock in a research note on Tuesday, June 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Simon Property Group currently has an average rating of “Hold” and a consensus target price of $190.62.

Simon Property Group Company 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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