Simon Property Group, Inc. (NYSE:SPG) Stock Position Lowered by Huntington National Bank

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

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank boosted its holdings in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Versant Capital Management Inc grew its position in Simon Property Group by 72.8% in the fourth 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 last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Simon Property Group in the fourth quarter valued at $416,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPG. Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Trading Up 2.5 %

NYSE SPG opened at $170.58 on Thursday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The firm’s fifty day simple moving average is $175.03 and its 200-day simple moving average is $174.53. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $55.66 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.92%. The ex-dividend date was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group 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.