M&R Capital Management Inc. Sells 50 Shares of Simon Property Group, Inc. (SPG)

M&R Capital Management Inc. decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 650 shares of the real estate investment trust’s stock after selling 50 shares during the quarter. M&R Capital Management Inc.’s holdings in Simon Property Group were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Simon Property Group by 0.6% during the second quarter. Vanguard Group Inc. now owns 45,741,576 shares of the real estate investment trust’s stock worth $7,399,158,000 after purchasing an additional 259,901 shares during the last quarter. BlackRock Inc. boosted its holdings in Simon Property Group by 1,886.1% during 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 purchasing an additional 28,270,599 shares during the last quarter. Capital World Investors boosted its holdings in Simon Property Group by 25.4% during the second quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock worth $3,362,667,000 after purchasing an additional 4,210,000 shares during the last quarter. State Street Corp boosted its holdings in Simon Property Group by 0.7% during 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 purchasing an additional 118,826 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its holdings in Simon Property Group by 7.4% during the second quarter. APG Asset Management US Inc. now owns 7,258,540 shares of the real estate investment trust’s stock worth $1,174,141,000 after purchasing an additional 498,800 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

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Several research analysts recently commented on the stock. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $170.00 price target on shares of Simon Property Group in a research report on Thursday. Barclays PLC upped their price target on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Argus dropped their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $193.07.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. Simon Property Group’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 earnings per share.

Simon Property Group 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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