Whittier Trust Co. of Nevada Inc. Boosts Stake in Simon Property Group, Inc. (NYSE:SPG)

Whittier Trust Co. of Nevada Inc. raised its position in Simon Property Group, Inc. (NYSE:SPG) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,953 shares of the real estate investment trust’s stock after purchasing an additional 1,356 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Simon Property Group were worth $6,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the 3rd quarter worth about $834,000. First Hawaiian Bank raised its position in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the period. Versant Capital Management Inc raised its position in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the period. Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in Simon Property Group in the 4th quarter worth about $416,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Simon Property Group Price Performance

NYSE SPG opened at $162.12 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm’s 50 day moving average price is $176.11 and its 200-day moving average price is $174.30. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The company has a market cap of $52.90 billion, a PE ratio of 22.33, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.18%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SPG shares. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

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.