CORDA Investment Management LLC. Sells 4,196 Shares of Simon Property Group, Inc. (NYSE:SPG)

CORDA Investment Management LLC. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,633 shares of the real estate investment trust's stock after selling 4,196 shares during the period. Simon Property Group comprises about 2.8% of CORDA Investment Management LLC.'s portfolio, making the stock its 15th largest position. CORDA Investment Management LLC. owned approximately 0.07% of Simon Property Group worth $35,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Simon Property Group by 0.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 254,087 shares of the real estate investment trust's stock valued at $41,185,000 after buying an additional 698 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Simon Property Group by 9.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,014 shares of the real estate investment trust's stock worth $1,497,000 after purchasing an additional 758 shares in the last quarter. Alpha Cubed Investments LLC boosted its stake in Simon Property Group by 16.5% in the 1st quarter. Alpha Cubed Investments LLC now owns 4,136 shares of the real estate investment trust's stock worth $687,000 after purchasing an additional 585 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Simon Property Group by 18.8% in the 1st quarter. TD Private Client Wealth LLC now owns 1,895 shares of the real estate investment trust's stock worth $315,000 after purchasing an additional 300 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in Simon Property Group by 22.3% in the 1st quarter. Capital Advisors Inc. OK now owns 391,692 shares of the real estate investment trust's stock worth $65,052,000 after purchasing an additional 71,456 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SPG shares. JPMorgan Chase & Co. reduced their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Scotiabank raised their price target on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Finally, Barclays initiated coverage on Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target for the company. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and an average target price of $178.50.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel bought 234 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the purchase, the director owned 19,057 shares of the company's stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,386 shares of company stock valued at $380,066 in the last ninety days. Insiders own 8.66% of the company's stock.

Simon Property Group Trading Up 0.5%

NYSE:SPG traded up $0.78 on Thursday, reaching $163.71. The company's stock had a trading volume of 264,548 shares, compared to its average volume of 1,542,043. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $53.44 billion, a PE ratio of 26.03, a PEG ratio of 9.11 and a beta of 1.43. The business's 50-day moving average price is $161.22 and its two-hundred day moving average price is $166.27.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. Simon Property Group's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.56 earnings per share. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.13%. Simon Property Group's dividend payout ratio is currently 133.76%.

About Simon Property Group

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.