Whittier Trust Co. Has $13.29 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Whittier Trust Co. grew its position in Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 77,200 shares of the real estate investment trust’s stock after buying an additional 2,385 shares during the period. Whittier Trust Co.’s holdings in Simon Property Group were worth $13,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Caprock Group LLC grew its stake in shares of Simon Property Group by 207.8% during the third quarter. Caprock Group LLC now owns 15,665 shares of the real estate investment trust’s stock worth $2,648,000 after purchasing an additional 10,575 shares during the period. Prospera Financial Services Inc grew its stake in shares of Simon Property Group by 61.8% during the third quarter. Prospera Financial Services Inc now owns 17,858 shares of the real estate investment trust’s stock worth $3,019,000 after purchasing an additional 6,819 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of Simon Property Group by 3.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,554 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 120 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Simon Property Group during the third quarter worth $1,590,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Simon Property Group by 51.4% during the third quarter. PNC Financial Services Group Inc. now owns 335,906 shares of the real estate investment trust’s stock worth $56,775,000 after purchasing an additional 114,088 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.0 %

Shares of NYSE:SPG opened at $164.73 on Thursday. The company has a fifty day moving average of $176.50 and a 200-day moving average of $174.40. The company has a market capitalization of $53.75 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. 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, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly 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 net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SPG shares. Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho lifted their target price 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. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $180.33.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

About Simon Property Group

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.