Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Private Trust Co. NA

Private Trust Co. NA grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 41.5% in the fourth quarter, HoldingsChannel reports. The fund owned 2,978 shares of the real estate investment trust’s stock after buying an additional 874 shares during the period. Private Trust Co. NA’s holdings in Simon Property Group were worth $513,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the 3rd quarter worth $30,000. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group during the 4th quarter worth $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group during the 4th quarter worth $41,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group during the 4th quarter worth $41,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.9 %

Shares of Simon Property Group stock opened at $186.13 on Friday. The stock’s fifty day moving average is $177.31 and its 200-day moving average is $173.74. The firm has a market capitalization of $60.73 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13.

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

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. 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 objective for the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

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.