Greenleaf Trust Has $1.65 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Greenleaf Trust increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,736 shares of the real estate investment trust’s stock after purchasing an additional 113 shares during the quarter. Greenleaf Trust’s holdings in Simon Property Group were worth $1,646,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Simon Property Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group during the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the 2nd quarter valued at $27,000. Finally, RFP Financial Group LLC boosted its stake in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

SPG opened at $173.82 on Thursday. The company has a fifty day moving average price of $167.07 and a two-hundred day moving average price of $155.15. The firm has a market capitalization of $56.67 billion, a PE ratio of 22.09, a P/E/G ratio of 9.70 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $104.05 and a 52 week high of $177.08. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company posted $2.88 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.72%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPG. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho raised their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.