Central Pacific Bank Trust Division Purchases Shares of 892 Simon Property Group, Inc. (NYSE:SPG)

Central Pacific Bank Trust Division purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 892 shares of the real estate investment trust’s stock, valued at approximately $137,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its stake in shares of Simon Property Group by 1.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock worth $741,000 after acquiring an additional 77 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Simon Property Group by 16.6% in the 4th quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 80 shares in the last quarter. Cascade Investment Group Inc. increased its position in shares of Simon Property Group by 0.5% during the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock valued at $2,097,000 after purchasing an additional 80 shares during the last quarter. Schechter Investment Advisors LLC increased its position in shares of Simon Property Group by 2.4% during the 4th quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 81 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC increased its position in shares of Simon Property Group by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 83 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SPG shares. Truist Financial increased their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Argus increased their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Scotiabank increased their price objective on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

Simon Property Group Trading Down 0.2 %

Shares of SPG stock traded down $0.33 during trading hours on Wednesday, reaching $147.24. The company’s stock had a trading volume of 49,263 shares, compared to its average volume of 1,476,552. The stock has a market capitalization of $47.99 billion, a P/E ratio of 18.80, a P/E/G ratio of 8.73 and a beta of 1.75. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $157.82. The firm’s fifty day simple moving average is $148.27 and its 200 day simple moving average is $146.93. 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 (NYSE:SPG) last issued its quarterly earnings data 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). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. Simon Property Group’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.74 earnings per share. Equities research analysts expect that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $2.00 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend was Friday, June 7th. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

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.