Miracle Mile Advisors LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 44.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,232 shares of the real estate investment trust's stock after selling 5,807 shares during the period. Miracle Mile Advisors LLC's holdings in Simon Property Group were worth $686,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Simon Property Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 49,391,784 shares of the real estate investment trust's stock valued at $6,497,983,000 after acquiring an additional 1,845,801 shares in the last quarter. BlackRock Inc. lifted its stake in Simon Property Group by 3.5% in the 4th quarter. BlackRock Inc. now owns 35,039,594 shares of the real estate investment trust's stock valued at $5,598,275,000 after acquiring an additional 1,181,872 shares in the last quarter. State Street Corp lifted its stake in Simon Property Group by 10.1% in the 1st quarter. State Street Corp now owns 23,491,606 shares of the real estate investment trust's stock valued at $3,090,556,000 after acquiring an additional 2,158,735 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Simon Property Group by 0.5% in the 1st quarter. Cohen & Steers Inc. now owns 22,256,444 shares of the real estate investment trust's stock valued at $2,928,757,000 after acquiring an additional 115,937 shares in the last quarter. Finally, Cowa LLC bought a new stake in Simon Property Group in the 1st quarter valued at approximately $107,000. Institutional investors own 81.86% of the company's stock.
Get Simon Property Group alerts:Analyst Ratings Changes
A number of brokerages have recently issued reports on SPG. Compass Point dropped their price objective on Simon Property Group from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, June 22nd. UBS Group upped their price objective on Simon Property Group from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 2nd. Jefferies Financial Group cut Simon Property Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $160.00 to $100.00 in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. Finally, Mizuho dropped their price objective on Simon Property Group from $158.00 to $115.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $142.29.
Simon Property Group Stock Performance
Shares of NYSE SPG opened at $90.18 on Friday. The company has a debt-to-equity ratio of 7.13, a current ratio of 1.02 and a quick ratio of 1.02. The stock's fifty day moving average price is $104.66 and its two-hundred day moving average price is $111.68. Simon Property Group, Inc. has a one year low of $88.54 and a one year high of $171.12. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.70 and a beta of 1.49.Simon Property Group (NYSE:SPG – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted $2.92 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Simon Property Group, Inc. will post 11.66 EPS for the current year.
Simon Property Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 7.76%. This is a positive change from Simon Property Group's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Thursday, September 8th. Simon Property Group's dividend payout ratio is currently 109.20%.
Simon Property Group Company Profile
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Simon is a real estate investment trust engaged 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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