Whittier Trust Co. Buys 2,796 Shares of Simon Property Group, Inc. (NYSE:SPG)

Whittier Trust Co. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,815 shares of the real estate investment trust’s stock after purchasing an additional 2,796 shares during the quarter. Whittier Trust Co.’s holdings in Simon Property Group were worth $12,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Western Financial Corp CA increased its stake in Simon Property Group by 27.3% in the 3rd quarter. Western Financial Corp CA now owns 9,245 shares of the real estate investment trust’s stock worth $1,563,000 after acquiring an additional 1,980 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of Simon Property Group by 4.0% during the 3rd quarter. Resonant Capital Advisors LLC now owns 2,143 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 83 shares during the last quarter. Alta Wealth Advisors LLC increased its position in shares of Simon Property Group by 4.8% during the 3rd quarter. Alta Wealth Advisors LLC now owns 4,304 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 198 shares during the last quarter. Everett Harris & Co. CA increased its position in shares of Simon Property Group by 0.5% during the 3rd quarter. Everett Harris & Co. CA now owns 49,025 shares of the real estate investment trust’s stock valued at $8,286,000 after purchasing an additional 234 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Simon Property Group by 2.4% during the 3rd quarter. Raymond James & Associates now owns 274,616 shares of the real estate investment trust’s stock valued at $46,416,000 after purchasing an additional 6,358 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPG shares. Mizuho increased their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 1.6 %

Shares of SPG traded down $2.82 on Monday, reaching $174.10. The stock had a trading volume of 466,281 shares, compared to its average volume of 1,457,518. The firm has a market capitalization of $56.76 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 9.70 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The company has a 50-day simple moving average of $165.93 and a 200-day simple moving average of $154.66. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned $2.88 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.71%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

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.