DekaBank Deutsche Girozentrale Has $67.41 Million Stake in Simon Property Group Inc (NYSE:SPG)

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DekaBank Deutsche Girozentrale boosted its position in shares of Simon Property Group Inc (NYSE:SPG) by 24.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 420,383 shares of the real estate investment trust’s stock after purchasing an additional 82,263 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Simon Property Group were worth $67,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp grew its position in shares of Simon Property Group by 2.6% during the 1st quarter. Northern Trust Corp now owns 5,944,106 shares of the real estate investment trust’s stock worth $1,083,076,000 after buying an additional 149,589 shares during the period. Geode Capital Management LLC grew its position 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 worth $790,441,000 after buying an additional 507,345 shares during the period. Nordea Investment Management AB grew its position 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 worth $385,853,000 after buying an additional 80,473 shares during the period. California Public Employees Retirement System grew its position 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 worth $306,029,000 after buying an additional 224,701 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position 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 worth $235,857,000 after buying an additional 146,188 shares during the period. Hedge funds and other institutional investors own 95.20% of the company’s stock.

NYSE SPG opened at $155.36 on Wednesday. The company has a fifty day simple moving average of $159.46. Simon Property Group Inc has a 12-month low of $150.80 and a 12-month high of $191.49. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 7.02. The firm has a market cap of $47.87 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.82 and a beta of 0.52.

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

The business 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. 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 5.41%. Simon Property Group’s dividend payout ratio (DPR) is 67.60%.

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

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. ValuEngine downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Citigroup reduced 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 report on Friday, June 28th. Deutsche Bank reduced their price target on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research report on Tuesday, June 11th. Finally, Barclays reissued a “buy” rating and issued a $202.00 price target on shares of Simon Property Group in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average 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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