Simon Property Group, Inc. (NYSE:SPG) Stake Maintained by Walter & Keenan Financial Consulting Co. MI ADV

Walter & Keenan Financial Consulting Co. MI ADV maintained its position in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, Holdings Channel reports. The firm owned 3,630 shares of the real estate investment trust’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Simon Property Group were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Simon Property Group by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,669,513 shares of the real estate investment trust’s stock worth $431,821,000 after buying an additional 165,240 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Simon Property Group by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 3,552 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 49 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Simon Property Group by 3.6% in the second quarter. Canada Pension Plan Investment Board now owns 907,508 shares of the real estate investment trust’s stock valued at $146,798,000 after buying an additional 31,700 shares during the last quarter. Gabalex Capital Management LLC acquired a new stake in Simon Property Group during the second quarter valued at $3,235,000. Finally, Global X Management Co. LLC boosted its stake in Simon Property Group by 11.0% in the second quarter. Global X Management Co. LLC now owns 3,397 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 336 shares during the last quarter. 95.64% of the stock is owned by institutional investors and hedge funds.

Simon Property Group, Inc. (NYSE:SPG) opened at 163.41 on Thursday. The stock has a 50 day moving average price of $160.80 and a 200-day moving average price of $167.46. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $219.41. The firm has a market cap of $50.79 billion, a price-to-earnings ratio of 29.12 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion for 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%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. Equities analysts forecast that Simon Property Group, Inc. will post $6.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a $1.80 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 annualized dividend and a dividend yield of 4.41%. Simon Property Group’s dividend payout ratio (DPR) is 124.33%.

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Several research firms recently weighed in on SPG. Barclays PLC decreased their target price on Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a research note on Monday, July 17th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $182.00 target price on shares of Simon Property Group in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Simon Property Group has an average rating of “Buy” and a consensus price target of $195.01.

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.

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

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