Indiana Trust & Investment Management CO purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 265 shares of the real estate investment trust’s stock, valued at approximately $41,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Simon Property Group during the 4th quarter valued at about $2,561,181,000. International Assets Investment Management LLC increased its holdings in Simon Property Group by 13,226.4% during the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after buying an additional 913,678 shares during the period. Panagora Asset Management Inc. raised its stake in Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after buying an additional 667,034 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Simon Property Group by 160.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after buying an additional 469,855 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Simon Property Group by 65.3% in the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after acquiring an additional 337,430 shares during the period. 93.01% of the stock is currently owned by institutional investors.
Simon Property Group Trading Up 1.3 %
Shares of Simon Property Group stock opened at $151.80 on Friday. The firm’s 50 day simple moving average is $147.63 and its two-hundred day simple moving average is $146.63. The firm 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. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $157.82. 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 – Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.74 EPS. Analysts predict that Simon Property Group, Inc. will post 12.84 EPS for the current year.
Simon Property Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.27%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 101.91%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on SPG shares. Scotiabank upped their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Truist Financial lifted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Finally, Argus increased their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and an average price target of $147.60.
Get Our Latest Stock Analysis on Simon Property Group
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.
Further Reading
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