Simon Property Group, Inc. (NYSE:SPG) Stake Raised by Diversified Trust Co

Diversified Trust Co lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,636 shares of the real estate investment trust's stock after buying an additional 8,317 shares during the period. Diversified Trust Co's holdings in Simon Property Group were worth $4,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pitcairn Co. raised its stake in Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 55 shares during the period. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares in the last quarter. HighPoint Advisor Group LLC raised its position in Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after buying an additional 60 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in Simon Property Group by 1.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust's stock worth $864,000 after acquiring an additional 70 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Simon Property Group by 1.3% during the 4th quarter. Signaturefd LLC now owns 5,542 shares of the real estate investment trust's stock worth $954,000 after acquiring an additional 71 shares during the period. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Scotiabank upped their target price on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Mizuho lowered their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Piper Sandler dropped their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Stifel Nicolaus increased their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $179.44.

Simon Property Group Price Performance

Shares of SPG opened at $160.70 on Friday. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $52.45 billion, a PE ratio of 25.59, a PEG ratio of 8.78 and a beta of 1.47. The firm's 50 day moving average price is $159.47 and its 200 day moving average price is $167.03. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.56 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.