Simon Property Group, Inc. (NYSE:SPG) Holdings Lowered by Greenleaf Trust

Greenleaf Trust trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPGGet Rating) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. United Capital Financial Advisers LLC raised its position in Simon Property Group by 31.1% during the second quarter. United Capital Financial Advisers LLC now owns 37,637 shares of the real estate investment trust’s stock valued at $3,572,000 after buying an additional 8,928 shares during the period. Franklin Resources Inc. raised its position in Simon Property Group by 4.0% during the second quarter. Franklin Resources Inc. now owns 205,908 shares of the real estate investment trust’s stock valued at $19,545,000 after buying an additional 7,908 shares during the period. Rhumbline Advisers increased its position in Simon Property Group by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 704,712 shares of the real estate investment trust’s stock worth $66,891,000 after purchasing an additional 40,508 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in Simon Property Group by 13.6% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 15,708 shares of the real estate investment trust’s stock worth $1,494,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Cetera Advisor Networks LLC increased its position in Simon Property Group by 133.5% in the 2nd quarter. Cetera Advisor Networks LLC now owns 6,098 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 3,486 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Simon Property Group from $129.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Truist Financial dropped their target price on Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, August 15th. Mizuho dropped their target price on Simon Property Group from $158.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 3rd. UBS Group upped their target price on Simon Property Group from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Finally, Piper Sandler dropped their target price on Simon Property Group from $130.00 to $123.00 and set an “overweight” rating on the stock in a research report on Friday, October 7th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $131.92.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $119.61 on Thursday. The business has a 50 day moving average price of $103.24 and a 200 day moving average price of $104.50. Simon Property Group, Inc. has a twelve month low of $86.02 and a twelve month high of $169.24. The company has a market cap of $39.11 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.67 and a beta of 1.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 7.17.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a dividend of $1.80 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Thursday, December 8th. This represents a $7.20 annualized dividend and a yield of 6.02%. Simon Property Group’s dividend payout ratio is presently 116.86%.

Simon Property Group Company Profile

(Get Rating)

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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