MidWestOne Financial Group Inc. Raises Stake in Simon Property Group, Inc. (NYSE:SPG)

MidWestOne Financial Group Inc. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 48.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,732 shares of the real estate investment trust's stock after purchasing an additional 2,866 shares during the quarter. MidWestOne Financial Group Inc.'s holdings in Simon Property Group were worth $1,504,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $416,000. HB Wealth Management LLC lifted its stake in Simon Property Group by 14.0% in the fourth quarter. HB Wealth Management LLC now owns 5,851 shares of the real estate investment trust's stock worth $1,008,000 after acquiring an additional 718 shares during the period. Diversify Wealth Management LLC lifted its stake in Simon Property Group by 2.5% in the fourth quarter. Diversify Wealth Management LLC now owns 3,035 shares of the real estate investment trust's stock worth $519,000 after acquiring an additional 74 shares during the period. Diversify Advisory Services LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $263,000. Finally, UMB Bank n.a. lifted its stake in Simon Property Group by 2.8% in the fourth quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust's stock worth $412,000 after acquiring an additional 66 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $162.89 on Wednesday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company's 50 day moving average is $158.13 and its 200 day moving average is $170.81. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $53.17 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned $3.56 EPS. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.16%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research reports. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank lowered their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $179.67.

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.

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