Simon Property Group, Inc. (NYSE:SPG) Holdings Decreased by Greenleaf Trust

Greenleaf Trust reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPGGet Rating) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,784 shares of the real estate investment trust’s stock after selling 219 shares during the quarter. Greenleaf Trust’s holdings in Simon Property Group were worth $644,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Westwood Wealth Management bought a new position in Simon Property Group during the 1st quarter worth $13,814,000. Tradition Wealth Management LLC bought a new position in Simon Property Group during the 1st quarter worth $25,000. JFS Wealth Advisors LLC grew its stake in Simon Property Group by 3,000.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 310 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 300 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in Simon Property Group during the 2nd quarter worth $37,000. Finally, Ancora Advisors LLC bought a new position in Simon Property Group during the 1st quarter worth $46,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SPG shares. Evercore ISI lowered their price objective on Simon Property Group to $114.00 in a research note on Thursday, October 20th. Mizuho reduced their price target on Simon Property Group from $158.00 to $115.00 and set a “neutral” rating for the company in a research report on Wednesday, August 3rd. Wolfe Research started coverage on Simon Property Group in a research report on Tuesday, October 18th. They set a “peer perform” rating for the company. StockNews.com started coverage on Simon Property Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Truist Financial reduced their price target on Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $131.92.

Simon Property Group Trading Up 0.2 %

Shares of Simon Property Group stock opened at $119.61 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $86.02 and a fifty-two week high of $169.24. The firm has a market cap of $39.11 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.67 and a beta of 1.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 7.17. The business has a fifty day simple moving average of $103.24 and a 200-day simple moving average of $104.50.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 6.02%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, December 8th. Simon Property Group’s dividend payout ratio is currently 116.86%.

About Simon Property Group

(Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Further Reading

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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