Intrust Bank NA Trims Holdings in Simon Property Group, Inc. (NYSE:SPG)

Intrust Bank NA lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,341 shares of the real estate investment trust’s stock after selling 76 shares during the quarter. Intrust Bank NA’s holdings in Simon Property Group were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. LPL Financial LLC grew its holdings in Simon Property Group by 16.6% during the 3rd quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after acquiring an additional 51,380 shares in the last quarter. Nordea Investment Management AB raised its stake in Simon Property Group by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after buying an additional 6,703 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Simon Property Group by 121.5% during the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after buying an additional 17,552 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $238,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Simon Property Group by 9.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock valued at $11,670,000 after acquiring an additional 7,250 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Morgan Stanley lifted their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Truist Financial increased 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 note on Friday, March 22nd. Finally, Evercore ISI lifted their target price on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Trading Down 0.2 %

Simon Property Group stock opened at $140.18 on Thursday. Simon Property Group, Inc. has a 52-week low of $100.17 and a 52-week high of $157.82. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. The firm has a market capitalization of $45.68 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 7.37 and a beta of 1.68. The firm has a 50-day moving average price of $148.57 and a two-hundred day moving average price of $137.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $3.15 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date was Thursday, March 7th. This represents a $7.80 annualized dividend and a dividend yield of 5.56%. Simon Property Group’s dividend payout ratio is presently 111.75%.

Simon Property Group announced that its board has authorized a stock repurchase program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Simon Property Group 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.