Summit Trail Advisors LLC Has $307,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Summit Trail Advisors LLC lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,153 shares of the real estate investment trust’s stock after selling 251 shares during the period. Summit Trail Advisors LLC’s holdings in Simon Property Group were worth $307,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Simon Property Group by 1.9% during the 3rd quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust’s stock worth $512,624,000 after acquiring an additional 86,778 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Simon Property Group by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,465,010 shares of the real estate investment trust’s stock valued at $374,325,000 after purchasing an additional 40,630 shares during the last quarter. Invesco Ltd. raised its position in shares of Simon Property Group by 3.1% in the third quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust’s stock valued at $260,265,000 after purchasing an additional 71,751 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Simon Property Group by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,128,104 shares of the real estate investment trust’s stock worth $229,897,000 after buying an additional 26,491 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Simon Property Group by 5.9% during the 3rd quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock worth $203,866,000 after buying an additional 105,606 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $147.13 on Wednesday. The firm’s 50 day simple moving average is $148.08 and its 200 day simple moving average is $138.97. The firm has a market capitalization of $47.95 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 7.50 and a beta of 1.68. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business posted $2.74 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group declared that its board has approved a share repurchase program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is currently 111.75%.

Analyst Ratings Changes

SPG has been the topic of several research analyst reports. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Morgan Stanley increased their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Truist Financial boosted their price target 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, Evercore ISI increased their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Four 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.com, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

About Simon Property Group

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.