Diversified Trust Co Purchases 6,840 Shares of Simon Property Group, Inc. (NYSE:SPG)

Diversified Trust Co raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 65.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,319 shares of the real estate investment trust’s stock after buying an additional 6,840 shares during the period. Diversified Trust Co’s holdings in Simon Property Group were worth $2,983,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Private Advisor Group LLC grew its holdings in Simon Property Group by 34.3% in the second quarter. Private Advisor Group LLC now owns 31,862 shares of the real estate investment trust’s stock worth $4,837,000 after purchasing an additional 8,132 shares during the last quarter. Acadian Asset Management LLC grew its stake in Simon Property Group by 838.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,025 shares of the real estate investment trust’s stock worth $15,028,000 after buying an additional 88,473 shares during the last quarter. Caprock Group LLC increased its position in Simon Property Group by 37.6% during the 2nd quarter. Caprock Group LLC now owns 5,090 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 1,391 shares in the last quarter. Ballentine Partners LLC raised its stake in Simon Property Group by 9.2% in the second quarter. Ballentine Partners LLC now owns 4,627 shares of the real estate investment trust’s stock valued at $702,000 after buying an additional 389 shares during the last quarter. Finally, First Foundation Advisors boosted its holdings in Simon Property Group by 569.4% in the second quarter. First Foundation Advisors now owns 5,375 shares of the real estate investment trust’s stock worth $816,000 after acquiring an additional 4,572 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SPG shares. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Stock Performance

Shares of SPG stock opened at $174.21 on Wednesday. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market cap of $56.84 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The business has a 50-day simple moving average of $177.15 and a 200-day simple moving average of $166.59.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.20 earnings per share. On average, equities analysts expect that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. Simon Property Group’s payout ratio is presently 111.85%.

Simon Property Group Profile

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.