Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Huntington National Bank

Huntington National Bank cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,414 shares of the real estate investment trust’s stock after selling 1,283 shares during the period. Huntington National Bank’s holdings in Simon Property Group were worth $10,232,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Simon Property Group in the 4th quarter valued at about $2,059,505,000. Hamlin Capital Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at about $109,403,000. KBC Group NV raised its stake in Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Simon Property Group by 22,608.6% during the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after buying an additional 539,893 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in shares of Simon Property Group by 17,222.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust’s stock worth $82,063,000 after acquiring an additional 473,779 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SPG shares. Mizuho raised their price objective 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. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Jefferies Financial Group upgraded 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 research note on Thursday, January 2nd. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $170.58 on Thursday. The firm’s 50 day moving average is $175.03 and its two-hundred day moving average is $174.53. The firm has a market capitalization of $55.66 billion, a P/E ratio of 23.50, a PEG ratio of 10.10 and a beta of 1.45. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. 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 earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.92%. Simon Property Group’s dividend payout ratio is presently 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.