Simon Property Group, Inc. (NYSE:SPG) Holdings Lowered by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 34.7% during the second quarter, Holdings Channel reports. The institutional investor owned 5,544 shares of the real estate investment trust’s stock after selling 2,943 shares during the period. MidWestOne Financial Group Inc.’s holdings in Simon Property Group were worth $842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearstead Trust LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the 2nd quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group in the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC grew its stake in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPG shares. Argus lifted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho lifted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Truist Financial lifted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

Simon Property Group stock opened at $167.71 on Friday. The firm’s 50 day simple moving average is $160.77 and its 200-day simple moving average is $152.76. The company has a market cap of $54.68 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 9.32 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $170.87.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business earned $2.88 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. The ex-dividend date of this dividend is Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.89%. Simon Property Group’s payout ratio is presently 104.46%.

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.