Diversified Trust Co Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Diversified Trust Co raised its position in shares of Simon Property Group, Inc. (NYSE:SPGGet Rating) by 110.8% during the 2nd quarter, Holdings Channel reports. The fund owned 6,092 shares of the real estate investment trust’s stock after purchasing an additional 3,202 shares during the period. Diversified Trust Co’s holdings in Simon Property Group were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. lifted its position in Simon Property Group by 1.7% during the fourth quarter. Eagle Asset Management Inc. now owns 13,217 shares of the real estate investment trust’s stock valued at $2,115,000 after purchasing an additional 217 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Simon Property Group by 21.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,558 shares of the real estate investment trust’s stock worth $409,000 after acquiring an additional 453 shares in the last quarter. American International Group Inc. grew its position in Simon Property Group by 0.8% in the fourth quarter. American International Group Inc. now owns 101,358 shares of the real estate investment trust’s stock worth $16,194,000 after acquiring an additional 843 shares in the last quarter. People s United Financial Inc. bought a new stake in Simon Property Group during the fourth quarter worth approximately $298,000. Finally, Gotham Asset Management LLC raised its position in Simon Property Group by 149.9% during the fourth quarter. Gotham Asset Management LLC now owns 27,650 shares of the real estate investment trust’s stock valued at $4,418,000 after purchasing an additional 16,587 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Simon Property Group Stock Down 2.7 %

Shares of NYSE:SPG opened at $95.65 on Thursday. The business’s 50 day moving average is $104.82 and its 200 day moving average is $112.36. The stock has a market cap of $32.80 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.49. Simon Property Group, Inc. has a 52-week low of $93.06 and a 52-week high of $171.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 7.13.

Simon Property Group (NYSE:SPGGet Rating) last issued its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.92 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 11.66 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a dividend of $1.75 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.70. The ex-dividend date is Thursday, September 8th. This represents a $7.00 dividend on an annualized basis and a yield of 7.32%. Simon Property Group’s dividend payout ratio (DPR) is 109.20%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent research reports. Mizuho dropped their target price on Simon Property Group from $158.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, August 3rd. Morgan Stanley dropped their price objective on shares of Simon Property Group from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, August 29th. Piper Sandler reduced their target price on shares of Simon Property Group to $130.00 in a research note on Monday, July 4th. UBS Group lifted their price target on shares of Simon Property Group from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Simon Property Group from $173.00 to $129.00 in a report on Monday, July 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.29.

Simon Property Group Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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