AMG National Trust Bank Takes Position in Simon Property Group, Inc. (NYSE:SPG)

AMG National Trust Bank bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,845 shares of the real estate investment trust’s stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after acquiring an additional 64,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the period. Smead Capital Management Inc. increased its holdings in Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after purchasing an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after purchasing an additional 98,366 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 2.0 %

SPG stock opened at $170.97 on Friday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The business’s 50 day moving average price is $178.03 and its two-hundred day moving average price is $174.50. 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 company has a market capitalization of $55.78 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s 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 transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. 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 price target on the stock. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, 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. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Company 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.