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

Diversified Trust Co grew its stake in Simon Property Group, Inc. (NYSE:SPGFree Report) by 130.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,852 shares of the real estate investment trust’s stock after buying an additional 6,153 shares during the period. Diversified Trust Co’s holdings in Simon Property Group were worth $1,698,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SPG. Federated Hermes Inc. boosted its holdings in shares of Simon Property Group by 45.6% in the third quarter. Federated Hermes Inc. now owns 16,433 shares of the real estate investment trust’s stock valued at $1,775,000 after acquiring an additional 5,150 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Simon Property Group in the 3rd quarter valued at about $972,000. Bank of Nova Scotia raised its holdings in Simon Property Group by 15.0% during the third quarter. Bank of Nova Scotia now owns 30,334 shares of the real estate investment trust’s stock worth $3,277,000 after purchasing an additional 3,956 shares in the last quarter. Gotham Asset Management LLC raised its position in Simon Property Group by 8.2% in the third quarter. Gotham Asset Management LLC now owns 21,519 shares of the real estate investment trust’s stock worth $2,325,000 after acquiring an additional 1,631 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Simon Property Group by 26.8% in the third quarter. AQR Capital Management LLC now owns 248,239 shares of the real estate investment trust’s stock valued at $26,817,000 after acquiring an additional 52,454 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. Truist Financial raised their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Argus raised their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Scotiabank increased their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.60.

Get Our Latest Analysis on Simon Property Group

Simon Property Group Stock Down 3.7 %

Simon Property Group stock traded down $5.65 during trading hours on Monday, hitting $146.15. The company had a trading volume of 346,756 shares, compared to its average volume of 1,499,233. The firm has a market capitalization of $47.64 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 9.02 and a beta of 1.75. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $157.82. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm’s fifty day moving average is $147.63 and its 200-day moving average is $146.77.

Simon Property Group (NYSE:SPGGet Free Report) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company earned $2.74 earnings per share. Simon Property Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts forecast that Simon Property Group, Inc. will post 12.84 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, June 28th. Investors of record on Friday, June 7th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.47%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, June 7th. Simon Property Group’s payout ratio is 101.91%.

Simon Property Group Company Profile

(Free Report)

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

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