Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,019 shares of the real estate investment trust’s stock after purchasing an additional 2,983 shares during the quarter. Whittier Trust Co.’s holdings in Simon Property Group were worth $10,932,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Diligent Investors LLC boosted its stake in shares of Simon Property Group by 0.5% in the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares during the last quarter. TIAA Trust National Association grew its holdings in shares of Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 69 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Simon Property Group by 1.7% during the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock worth $646,000 after buying an additional 70 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Simon Property Group by 26.9% in the second quarter. Capital Advisors Ltd. LLC now owns 344 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 73 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Simon Property Group by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. Argus raised their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday. Evercore ISI raised their target price on shares of Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research note on Wednesday. Scotiabank raised their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $157.25.

Simon Property Group Trading Down 0.5 %

Simon Property Group stock traded down $0.88 during trading on Thursday, hitting $166.83. The company had a trading volume of 349,272 shares, compared to its average volume of 1,444,287. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $169.18. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company’s 50 day simple moving average is $153.10 and its 200-day simple moving average is $150.12. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 8.58 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $2.88 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.