PNC Financial Services Group Inc. reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 447,696 shares of the real estate investment trust’s stock after selling 4,652 shares during the period. PNC Financial Services Group Inc. owned 0.14% of Simon Property Group worth $77,017,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brookfield Asset Management Inc. raised its stake in Simon Property Group by 28.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,264,105 shares of the real estate investment trust’s stock worth $402,264,000 after buying an additional 495,300 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in Simon Property Group during the fourth quarter worth $7,240,000. Commerzbank Aktiengesellschaft FI raised its stake in Simon Property Group by 167.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,685 shares of the real estate investment trust’s stock worth $832,000 after buying an additional 2,933 shares in the last quarter. Gradient Investments LLC raised its stake in Simon Property Group by 21.1% in the first quarter. Gradient Investments LLC now owns 31,876 shares of the real estate investment trust’s stock worth $5,484,000 after buying an additional 5,560 shares in the last quarter. Finally, Tredje AP fonden raised its stake in Simon Property Group by 23.7% in the fourth quarter. Tredje AP fonden now owns 38,504 shares of the real estate investment trust’s stock worth $6,841,000 after buying an additional 7,374 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

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

Shares of Simon Property Group, Inc. (NYSE SPG) traded down 0.29% during midday trading on Friday, hitting $160.26. 4,639,236 shares of the stock were exchanged. The firm has a 50 day moving average of $158.97 and a 200-day moving average of $173.00. The stock has a market cap of $50.03 billion, a P/E ratio of 27.42 and a beta of 0.61. Simon Property Group, Inc. has a 12 month low of $150.15 and a 12 month high of $229.10.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by $0.02. Simon Property Group had a net margin of 34.99% and a return on equity of 40.16%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business posted $2.63 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that Simon Property Group, Inc. will post $6.52 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, May 15th. Simon Property Group’s dividend payout ratio is currently 119.66%.

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A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. Goldman Sachs Group, Inc. (The) downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $207.00 to $185.00 in a research report on Friday, March 17th. Vetr raised shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective for the company in a research report on Wednesday, April 26th. Hilliard Lyons raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Friday, March 17th. They noted that the move was a valuation call. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $191.00 price objective (down from $200.00) on shares of Simon Property Group in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $204.37.

In other news, Director Reuben S. Leibowitz purchased 1,400 shares of the stock in a transaction dated Tuesday, March 28th. The shares were acquired at an average cost of $166.00 per share, for a total transaction of $232,400.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 8.42% of the stock is currently owned by company insiders.

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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