Simon Property Group, Inc. (NYSE:SPG) Holdings Raised by Truist Financial Corp

Truist Financial Corp grew its position in Simon Property Group, Inc. (NYSE:SPG) by 76.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 35,091 shares of the real estate investment trust’s stock after buying an additional 15,215 shares during the period. Truist Financial Corp’s holdings in Simon Property Group were worth $6,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Childress Capital Advisors LLC lifted its holdings in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 62 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in shares of Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 65 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Down 1.5 %

NYSE:SPG opened at $183.86 on Friday. 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, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The business’s fifty day moving average price is $176.37 and its 200 day moving average price is $172.72. The firm has a market capitalization of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.50% 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.