Greenleaf Trust Has $644,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

Greenleaf Trust reduced its position in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,784 shares of the real estate investment trust’s stock after selling 219 shares during the period. Greenleaf Trust’s holdings in Simon Property Group were worth $644,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Simon Property Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 49,391,784 shares of the real estate investment trust’s stock worth $6,497,983,000 after purchasing an additional 1,845,801 shares during the last quarter. State Street Corp boosted its stake in shares of Simon Property Group by 10.1% during the 1st quarter. State Street Corp now owns 23,491,606 shares of the real estate investment trust’s stock worth $3,090,556,000 after acquiring an additional 2,158,735 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of Simon Property Group by 0.5% during the 1st quarter. Cohen & Steers Inc. now owns 22,256,444 shares of the real estate investment trust’s stock worth $2,928,757,000 after acquiring an additional 115,937 shares in the last quarter. Cowa LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth about $107,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Simon Property Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,908,990 shares of the real estate investment trust’s stock worth $645,845,000 after acquiring an additional 18,893 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of SPG stock opened at $119.61 on Thursday. The stock has a 50 day moving average of $103.24 and a two-hundred day moving average of $104.50. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 7.17. Simon Property Group, Inc. has a 12 month low of $86.02 and a 12 month high of $169.24. The company has a market capitalization of $39.11 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.67 and a beta of 1.51.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be given a $1.80 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 6.02%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio (DPR) is currently 116.86%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SPG shares. Truist Financial decreased their price target on Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, August 15th. UBS Group upped their price target 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 decreased their target price on Simon Property Group from $129.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Evercore ISI decreased their target price on Simon Property Group to $114.00 in a research note on Thursday, October 20th. Finally, Wolfe Research started coverage on Simon Property Group in a research note on Tuesday, October 18th. They set a “peer perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $131.92.

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.

Further Reading

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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