Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,913 shares of the real estate investment trust’s stock after purchasing an additional 69 shares during the period. TIAA Trust National Association’s holdings in Simon Property Group were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in SPG. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at about $25,000. Cape Investment Advisory Inc. raised its position in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $34,000. Indiana Trust & Investment Management CO purchased a new stake in shares of Simon Property Group in the first quarter valued at about $41,000. Finally, Rise Advisors LLC grew its holdings in shares of Simon Property Group by 145.9% in the first quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 162 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Up 2.1 %

NYSE:SPG traded up $3.29 during mid-day trading on Monday, hitting $156.74. The stock had a trading volume of 661,408 shares, compared to its average volume of 1,468,142. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $158.19. The stock has a 50-day simple moving average of $149.23 and a two-hundred day simple moving average of $147.41. The company has a market capitalization of $51.09 billion, a PE ratio of 19.74, a PEG ratio of 9.12 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.74 earnings per share. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 5.10%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. Simon Property Group’s dividend payout ratio (DPR) is 101.91%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SPG shares. Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Scotiabank upped their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

Simon Property Group 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.