Simmons Bank Has $267,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Simmons Bank lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,757 shares of the real estate investment trust’s stock after selling 83 shares during the quarter. Simmons Bank’s holdings in Simon Property Group were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SPG. CWM LLC grew its position in shares of Simon Property Group by 7.8% during the 4th quarter. CWM LLC now owns 6,914 shares of the real estate investment trust’s stock worth $986,000 after buying an additional 502 shares during the period. Kovack Advisors Inc. acquired a new position in Simon Property Group during the 4th quarter worth approximately $281,000. Choreo LLC bought a new position in Simon Property Group in the fourth quarter valued at $216,000. Naviter Wealth LLC increased its position in shares of Simon Property Group by 19.3% in the fourth quarter. Naviter Wealth LLC now owns 25,115 shares of the real estate investment trust’s stock valued at $3,582,000 after acquiring an additional 4,064 shares during the last quarter. Finally, Steele Capital Management Inc. bought a new position in shares of Simon Property Group in the fourth quarter valued at $318,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Down 0.2 %

Shares of Simon Property Group stock opened at $167.71 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 8.58 and a beta of 1.75. The firm’s 50-day moving average price is $153.10 and its two-hundred day moving average price is $150.12.

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

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s payout ratio is currently 104.46%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. 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 upped their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Argus boosted their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $157.25.

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.