US Bancorp DE Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

US Bancorp DE lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,797 shares of the real estate investment trust’s stock after purchasing an additional 1,683 shares during the quarter. US Bancorp DE’s holdings in Simon Property Group were worth $10,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Childress Capital Advisors LLC boosted its holdings in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares during the period. Global X Japan Co. Ltd. boosted its holdings in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 59 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares during the period. Bleakley Financial Group LLC boosted its holdings in Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 62 shares during the period. Finally, Carnegie Investment Counsel boosted its holdings in Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 65 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on 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 transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Up 0.8 %

Shares of NYSE:SPG opened at $187.60 on Tuesday. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The firm has a market capitalization of $61.21 billion, a P/E ratio of 25.84, a P/E/G ratio of 10.10 and a beta of 1.74. The stock has a 50 day moving average price of $177.63 and a 200-day moving average price of $174.07. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on 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 raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.44.

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.