Ipswich Investment Management Co. Inc. Maintains Position in Simon Property Group, Inc. (SPG)

Ipswich Investment Management Co. Inc. held its position in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,347 shares of the real estate investment trust’s stock at the end of the second quarter. Ipswich Investment Management Co. Inc.’s holdings in Simon Property Group were worth $218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Simon Property Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 45,481,675 shares of the real estate investment trust’s stock worth $7,824,213,000 after buying an additional 923,592 shares in the last quarter. BlackRock Inc. raised its position in shares of Simon Property Group by 1,886.1% in the first quarter. BlackRock Inc. now owns 29,769,454 shares of the real estate investment trust’s stock worth $5,121,238,000 after buying an additional 28,270,599 shares in the last quarter. State Street Corp raised its position in shares of Simon Property Group by 0.7% in the first quarter. State Street Corp now owns 18,280,079 shares of the real estate investment trust’s stock worth $3,144,722,000 after buying an additional 118,826 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Simon Property Group by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 5,730,284 shares of the real estate investment trust’s stock worth $985,781,000 after buying an additional 17,815 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Simon Property Group by 0.6% in the first quarter. Principal Financial Group Inc. now owns 5,569,998 shares of the real estate investment trust’s stock worth $958,623,000 after buying an additional 35,432 shares in the last quarter. 95.77% of the stock is currently owned by institutional investors.

Shares of Simon Property Group, Inc. (NYSE SPG) traded down 2.30% during mid-day trading on Friday, hitting $153.58. The company’s stock had a trading volume of 2,131,492 shares. Simon Property Group, Inc. has a 1-year low of $150.15 and a 1-year high of $219.41. The company has a market cap of $47.74 billion, a price-to-earnings ratio of 27.37 and a beta of 0.58. The company has a 50-day moving average of $160.22 and a 200 day moving average of $166.37.

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

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

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SPG has been the topic of a number of analyst reports. Vetr raised Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective on the stock in a report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised Simon Property Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $175.00 to $185.00 in a report on Tuesday, June 20th. Stifel Nicolaus initiated coverage on Simon Property Group in a report on Friday, July 14th. They set a “hold” rating and a $170.00 price objective on the stock. ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC reissued an “overweight” rating and set a $191.00 price objective (down previously from $200.00) on shares of Simon Property Group in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $195.01.

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.

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

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