Diversified Trust Co Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Diversified Trust Co raised its position in Simon Property Group, Inc. (NYSE:SPG) by 130.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,852 shares of the real estate investment trust’s stock after acquiring an additional 6,153 shares during the quarter. Diversified Trust Co’s holdings in Simon Property Group were worth $1,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Breakwater Capital Group acquired a new stake in shares of Simon Property Group in the first quarter valued at $215,000. Cornerstone Wealth Group LLC purchased a new position in shares of Simon Property Group in the 1st quarter valued at about $3,214,000. Vicus Capital grew its position in shares of Simon Property Group by 11.8% during the first quarter. Vicus Capital now owns 2,061 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 217 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Simon Property Group by 54.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,455 shares of the real estate investment trust’s stock valued at $697,000 after acquiring an additional 1,576 shares in the last quarter. Finally, First Dallas Securities Inc. lifted its stake in Simon Property Group by 13.3% in the first quarter. First Dallas Securities Inc. now owns 3,400 shares of the real estate investment trust’s stock worth $532,000 after acquiring an additional 400 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

NYSE SPG traded down $5.65 on Monday, reaching $146.15. The stock had a trading volume of 346,756 shares, compared to its average volume of 1,499,233. The stock has a market cap of $47.64 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 9.02 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $157.82. The business’s 50-day moving average price is $147.63 and its 200 day moving average price is $146.77. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $2.74 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is 101.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Argus lifted their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Scotiabank raised their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.60.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.