Simon Property Group, Inc. (SPG) Holdings Increased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 50.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 302,295 shares of the real estate investment trust’s stock after purchasing an additional 100,785 shares during the period. Lazard Asset Management LLC owned approximately 0.10% of Simon Property Group worth $48,898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Logan Capital Management Inc. boosted its stake in Simon Property Group by 0.6% during the 1st quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 15 shares during the last quarter. Whitnell & Co. boosted its stake in shares of Simon Property Group by 0.4% in the 2nd quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock worth $868,000 after buying an additional 21 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Simon Property Group by 2.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 31 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Simon Property Group by 1.1% in the 2nd quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 40 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Simon Property Group by 2.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,760 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Simon Property Group, Inc. (SPG) traded down 1.04% during midday trading on Tuesday, reaching $159.84. The company’s stock had a trading volume of 365,839 shares. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $215.56. The stock has a market cap of $49.68 billion, a price-to-earnings ratio of 28.49 and a beta of 0.58. The stock’s 50 day moving average price is $159.46 and its 200-day moving average price is $162.67.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $2.63 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts forecast that Simon Property Group, Inc. will post $6.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a dividend of $1.80 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Tuesday, August 15th. Simon Property Group’s dividend payout ratio is presently 127.89%.

A number of equities analysts have recently issued reports on the company. Argus dropped their price target on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, June 29th. Morgan Stanley restated an “equal weight” rating and issued a $158.00 price target (down from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research downgraded Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, August 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $193.76.

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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.

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

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