Indiana Trust & Investment Management CO Makes New $41,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Indiana Trust & Investment Management CO acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 265 shares of the real estate investment trust’s stock, valued at approximately $41,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPG. Cape Investment Advisory Inc. lifted its holdings in Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $34,000. Rise Advisors LLC lifted its stake in Simon Property Group by 145.9% during the first quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 162 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $41,000. Finally, Highlander Capital Management LLC increased its stake in Simon Property Group by 183.5% in the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SPG shares. Scotiabank increased their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Argus boosted their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Truist Financial raised their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.60.

Simon Property Group Stock Up 1.3 %

Simon Property Group stock opened at $151.80 on Friday. The stock has a 50 day moving average of $147.63 and a two-hundred day moving average of $146.63. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $157.82. The stock has a market capitalization of $49.48 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 8.91 and a beta of 1.71. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business earned $2.74 earnings per share. Simon Property Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $2.00 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. This represents a $8.00 annualized dividend and a dividend yield of 5.27%. Simon Property Group’s payout ratio is presently 101.91%.

About Simon Property Group

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.