Diversified Trust Co raised its position in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 110.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,092 shares of the real estate investment trust's stock after buying an additional 3,202 shares during the quarter. Diversified Trust Co's holdings in Simon Property Group were worth $578,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Grassi Investment Management lifted its position in Simon Property Group by 16.7% during the 2nd quarter. Grassi Investment Management now owns 24,185 shares of the real estate investment trust's stock valued at $2,296,000 after acquiring an additional 3,453 shares during the period. Rothschild Investment Corp IL boosted its position in shares of Simon Property Group by 176.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 7,448 shares of the real estate investment trust's stock worth $707,000 after purchasing an additional 4,750 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Simon Property Group in the 2nd quarter worth approximately $81,000. SAM Advisors LLC increased its position in Simon Property Group by 6.5% during the 2nd quarter. SAM Advisors LLC now owns 20,562 shares of the real estate investment trust's stock valued at $1,968,000 after buying an additional 1,251 shares in the last quarter. Finally, Carmel Capital Partners LLC purchased a new position in Simon Property Group during the second quarter valued at $311,000. Institutional investors own 81.86% of the company's stock.
Get Simon Property Group alerts:Simon Property Group Trading Down 2.7 %
Simon Property Group stock opened at $95.65 on Thursday. Simon Property Group, Inc. has a 52-week low of $93.06 and a 52-week high of $171.12. The company has a market cap of $32.80 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.86 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 7.13. The business has a 50-day simple moving average of $104.82 and a two-hundred day simple moving average of $112.36.
Simon Property Group (NYSE:SPG – Get Rating) last announced its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $2.92 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that Simon Property Group, Inc. will post 11.66 EPS for the current year.Simon Property Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $1.75 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date is Thursday, September 8th. Simon Property Group's dividend payout ratio (DPR) is currently 109.20%.
Analysts Set New Price Targets
SPG has been the topic of a number of recent research reports. UBS Group increased their target price on Simon Property Group from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Simon Property Group from $173.00 to $129.00 in a research report on Monday, July 18th. Piper Sandler decreased their target price on shares of Simon Property Group to $130.00 in a report on Monday, July 4th. Compass Point cut their price target on shares of Simon Property Group from $200.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, June 22nd. Finally, Mizuho decreased their price objective on shares of Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.29.
Simon Property Group Profile
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Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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