US Bancorp DE Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

US Bancorp DE raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,797 shares of the real estate investment trust’s stock after purchasing an additional 1,683 shares during the period. US Bancorp DE’s holdings in Simon Property Group were worth $10,298,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. WR Wealth Planners LLC boosted its stake in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. SVB Wealth LLC purchased a new stake in Simon Property Group during the 4th quarter valued at $634,000. Veridan Wealth LLC purchased a new stake in Simon Property Group during the 4th quarter valued at $819,000. Private Trust Co. NA boosted its stake in Simon Property Group by 41.5% during the 4th quarter. Private Trust Co. NA now owns 2,978 shares of the real estate investment trust’s stock valued at $513,000 after purchasing an additional 874 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Simon Property Group by 4.3% in the 4th quarter. QRG Capital Management Inc. now owns 186,547 shares of the real estate investment trust’s stock worth $32,125,000 after buying an additional 7,680 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

NYSE:SPG opened at $187.60 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business’s 50-day simple moving average is $177.63 and its two-hundred day simple moving average is $174.07. The stock has a market cap of $61.21 billion, a PE ratio of 25.84, a P/E/G ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.48%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $178.44.

Simon Property Group Company Profile

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.