Intrust Bank NA Lowers Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Intrust Bank NA decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,937 shares of the real estate investment trust’s stock after selling 282 shares during the period. Intrust Bank NA’s holdings in Simon Property Group were worth $334,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SPG. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $834,000. First Hawaiian Bank increased its position in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 1,372 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after buying an additional 3,990 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at approximately $416,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SPG shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $164.21 on Monday. The business’s 50 day moving average price is $175.42 and its 200 day moving average price is $174.53. The company has a market cap of $53.58 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year 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, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.12%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

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.