First Hawaiian Bank cut its stake in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 62.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,391 shares of the real estate investment trust’s stock after selling 7,158 shares during the period. First Hawaiian Bank’s holdings in Simon Property Group were worth $578,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $31,000. Equitec Proprietary Markets LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $36,000. Tyler Stone Wealth Management bought a new position in shares of Simon Property Group in the fourth quarter worth $38,000. Vectors Research Management LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $42,000. Finally, Arlington Partners LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $44,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.
SPG has been the subject of several recent analyst reports. Compass Point decreased their price target on Simon Property Group from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Simon Property Group from $190.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Morgan Stanley decreased their target price on Simon Property Group from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, March 7th. Truist Financial decreased their target price on Simon Property Group from $155.00 to $130.00 in a research note on Friday, June 3rd. Finally, StockNews.com started coverage on Simon Property Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.07.
Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($1.44). The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Simon Property Group had a return on equity of 56.67% and a net margin of 43.12%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 11.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be paid a $1.70 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a yield of 7.09%. The ex-dividend date is Wednesday, June 8th. Simon Property Group’s dividend payout ratio is currently 100.30%.
Simon Property Group Company Profile (Get Rating)
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.
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