Whittier Trust Co. of Nevada Inc. Acquires 1,016 Shares of Simon Property Group, Inc. (NYSE:SPG)

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,597 shares of the real estate investment trust’s stock after acquiring an additional 1,016 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Simon Property Group were worth $5,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth about $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group in the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the 2nd quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in Simon Property Group during the 2nd quarter worth about $27,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Simon Property Group in the 1st quarter valued at about $29,000. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on SPG shares. Truist Financial raised their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Scotiabank raised their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group Trading Down 1.7 %

Shares of SPG stock traded down $3.08 on Monday, reaching $173.84. The company had a trading volume of 508,129 shares, compared to its average volume of 1,457,724. The company has a 50-day moving average of $165.93 and a 200-day moving average of $154.66. Simon Property Group, Inc. has a 12 month low of $104.05 and a 12 month high of $177.08. The stock has a market cap of $56.68 billion, a PE ratio of 22.48, a PEG ratio of 9.70 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.88 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $2.05 dividend. The ex-dividend date was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 4.72%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is 104.19%.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

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.