Intrust Bank NA Has $334,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Intrust Bank NA decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,341 shares of the real estate investment trust’s stock after selling 76 shares during the quarter. Intrust Bank NA’s holdings in Simon Property Group were worth $334,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Arlington Trust Co LLC bought a new stake in Simon Property Group in the third quarter valued at $25,000. DT Investment Partners LLC lifted its holdings in Simon Property Group by 714.3% during the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Selway Asset Management acquired a new position in Simon Property Group in the third quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Simon Property Group during the third quarter worth about $33,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter worth approximately $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.2 %

SPG stock opened at $140.18 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The company has a market cap of $45.68 billion, a P/E ratio of 20.08, a PEG ratio of 7.37 and a beta of 1.68. The business has a fifty day moving average of $148.57 and a 200-day moving average of $137.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $3.15 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $1.95 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.56%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio is currently 111.75%.

Simon Property Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 8th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI boosted their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Truist Financial raised their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley upped their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Company Profile

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.