Central Pacific Bank Trust Division Sells 324 Shares of Simon Property Group, Inc. (NYSE:SPG)

Central Pacific Bank Trust Division lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 37.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 538 shares of the real estate investment trust’s stock after selling 324 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Simon Property Group were worth $93,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares during the period. International Assets Investment Management LLC boosted its position in Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC grew its stake in Simon Property Group by 2,520.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after purchasing an additional 633,072 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Simon Property Group by 295.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after purchasing an additional 489,519 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $176.07 on Monday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The stock has a market cap of $57.45 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The stock has a fifty day moving average of $177.07 and a 200-day moving average of $166.20.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $3.20 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.77%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPG. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $172.10.

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.