Blue Trust Inc. Cuts Position in Simon Property Group, Inc. (NYSE:SPG)

Blue Trust Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 70.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,281 shares of the real estate investment trust’s stock after selling 3,057 shares during the period. Blue Trust Inc.’s holdings in Simon Property Group were worth $221,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SPG. Vontobel Holding Ltd. purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $310,000. Raymond James & Associates increased its stake in shares of Simon Property Group by 2.4% during the third quarter. Raymond James & Associates now owns 274,616 shares of the real estate investment trust’s stock worth $46,416,000 after buying an additional 6,358 shares during the period. Foundations Investment Advisors LLC acquired a new position in Simon Property Group in the third quarter valued at approximately $5,321,000. Signaturefd LLC boosted its holdings in Simon Property Group by 9.7% in the third quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 486 shares in the last quarter. Finally, Eastern Bank acquired a new position in Simon Property Group in the third quarter valued at approximately $42,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPG has been the subject of a number of research analyst reports. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Price Performance

SPG stock opened at $185.88 on Thursday. The company has a market capitalization of $60.65 billion, a P/E ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The business has a 50 day simple moving average of $176.10 and a 200-day simple moving average of $172.25. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Company 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.