Investors Sell Shares of Simon Property Group, Inc. (NYSE:SPG) on Strength (NYSE:SPG)

Investors sold shares of Simon Property Group, Inc. (NYSE:SPG) on strength during trading on Tuesday. $116.10 million flowed into the stock on the tick-up and $154.64 million flowed out of the stock on the tick-down, for a money net flow of $38.54 million out of the stock. Of all companies tracked, Simon Property Group had the 0th highest net out-flow for the day. Simon Property Group traded up $6.08 for the day and closed at $164.58

Several equities analysts recently commented on SPG shares. Goldman Sachs Group, Inc. (The) raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Argus dropped their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, June 29th. Mizuho raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Tuesday, May 30th. Vetr downgraded shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price objective for the company. in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $190.00 target price on shares of Simon Property Group in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. Simon Property Group has an average rating of “Hold” and a consensus target price of $195.01.

The firm has a market cap of $47.74 billion, a P/E ratio of 27.37 and a beta of 0.58. The firm has a 50 day moving average price of $160.22 and a 200 day moving average price of $166.37.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned $2.63 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Simon Property Group, Inc. will post $6.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a yield of 4.69%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s payout ratio is currently 127.89%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. boosted its position in shares of Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares during the last quarter. Norway Savings Bank boosted its position in shares of Simon Property Group by 19.5% in the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares during the last quarter. Rockefeller Financial Services Inc. bought a new position in shares of Simon Property Group during the first quarter worth about $138,000. Finally, Alpha Windward LLC boosted its position in shares of Simon Property Group by 12.2% in the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 93 shares during the last quarter. 95.77% of the stock is owned by institutional investors.

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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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