DIAM Co. Ltd. boosted its stake in shares of Simon Property Group Inc. (NYSE:SPG) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 847,030 shares of the real estate investment trust’s stock after buying an additional 2,778 shares during the period. Simon Property Group accounts for about 2.6% of DIAM Co. Ltd.’s portfolio, making the stock its largest position. DIAM Co. Ltd.’s holdings in Simon Property Group were worth $175,824,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SPG. Ibex Wealth Advisors bought a new stake in Simon Property Group during the third quarter valued at approximately $901,000. Bbva Compass Bancshares Inc. increased its stake in Simon Property Group by 43.7% in the third quarter. Bbva Compass Bancshares Inc. now owns 2,133 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 649 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Simon Property Group during the third quarter valued at approximately $1,532,000. Bahl & Gaynor Inc. increased its stake in Simon Property Group by 15.6% in the third quarter. Bahl & Gaynor Inc. now owns 1,134 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 153 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its stake in Simon Property Group by 9.8% in the third quarter. Transamerica Financial Advisors Inc. now owns 13,673 shares of the real estate investment trust’s stock valued at $2,831,000 after buying an additional 1,216 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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

Simon Property Group Inc. (NYSE:SPG) opened at 179.65 on Thursday. The firm has a market capitalization of $56.45 billion, a P/E ratio of 30.60 and a beta of 0.65. The firm has a 50-day moving average price of $187.51 and a 200-day moving average price of $205.04. Simon Property Group Inc. has a 52 week low of $174.91 and a 52 week high of $229.10.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.02. Simon Property Group had a net margin of 35.37% and a return on equity of 36.22%. The business earned $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the business earned $2.54 EPS. Simon Property Group’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that Simon Property Group Inc. will post $10.80 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Monday, November 14th. Simon Property Group’s dividend payout ratio is 112.25%.

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A number of equities analysts have recently issued reports on the company. Mizuho downgraded Simon Property Group from a “buy” rating to a “neutral” rating and set a $238.00 target price for the company. in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Argus set a $245.00 target price on Simon Property Group and gave the stock a “buy” rating in a research note on Thursday, August 11th. Canaccord Genuity increased their target price on Simon Property Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Finally, Deutsche Bank AG increased their target price on Simon Property Group from $232.00 to $233.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $236.24.

Simon Property Group Company Profile

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.

5 Day Chart for NYSE:SPG

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