Fulton Bank N.A. Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Fulton Bank N.A. acquired a new position in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,009 shares of the real estate investment trust’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group during the 3rd quarter worth $834,000. Red Cedar Investment Management LLC boosted its stake in Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after buying an additional 10,644 shares during the period. TTP Investments Inc. increased its position in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after acquiring an additional 10,147 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the period. Finally, Forte Capital LLC ADV acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $630,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Trading Down 2.1 %

Shares of Simon Property Group stock opened at $171.01 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. The company’s 50-day simple moving average is $177.38 and its 200-day simple moving average is $166.85.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.20 earnings per share. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

About Simon Property Group

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.