First Hawaiian Bank Raises Position in Simon Property Group, Inc. (NYSE:SPG)

First Hawaiian Bank boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 35.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,294 shares of the real estate investment trust’s stock after buying an additional 1,372 shares during the period. First Hawaiian Bank’s holdings in Simon Property Group were worth $912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $834,000. Red Cedar Investment Management LLC lifted its holdings in shares of Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after purchasing an additional 10,644 shares during the last quarter. TTP Investments Inc. lifted its holdings in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after purchasing an additional 10,147 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Finally, Forte Capital LLC ADV purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $630,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group upgraded shares of 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 report on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $172.10.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group Trading Down 2.1 %

NYSE:SPG opened at $171.01 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a market cap of $55.80 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a 50 day simple moving average of $177.38 and a two-hundred day simple moving average of $166.85.

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

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 111.85%.

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.