UMB Bank n.a. Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

UMB Bank n.a. boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 2.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,391 shares of the real estate investment trust’s stock after acquiring an additional 66 shares during the period. UMB Bank n.a.’s holdings in Simon Property Group were worth $412,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Simon Property Group during the 2nd quarter valued at about $364,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Simon Property Group by 5.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,934 shares of the real estate investment trust’s stock valued at $597,000 after buying an additional 206 shares during the period. Pacer Advisors Inc. lifted its stake in Simon Property Group by 4.7% in the second quarter. Pacer Advisors Inc. now owns 23,230 shares of the real estate investment trust’s stock worth $3,526,000 after acquiring an additional 1,052 shares during the period. Profund Advisors LLC boosted its holdings in Simon Property Group by 2.7% in the second quarter. Profund Advisors LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $785,000 after acquiring an additional 137 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Simon Property Group by 5.4% during the 2nd quarter. ProShare Advisors LLC now owns 61,323 shares of the real estate investment trust’s stock valued at $9,309,000 after purchasing an additional 3,119 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $172.90 on Thursday. The company has a market capitalization of $56.41 billion, a PE ratio of 23.02, a PEG ratio of 9.33 and a beta of 1.75. The business has a fifty day moving average price of $177.00 and a 200-day moving average price of $168.36. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.20 earnings per share. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.86%. 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 currently 111.85%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com cut 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 Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.10.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

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.