SVB Wealth LLC Has $949,000 Stake in Simon Property Group, Inc. (NYSE:SPG)

SVB Wealth LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,064 shares of the real estate investment trust’s stock after buying an additional 733 shares during the period. SVB Wealth LLC’s holdings in Simon Property Group were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Clearstead Trust LLC acquired a new position in Simon Property Group in the 1st quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group in the first quarter valued at about $26,000. Cape Investment Advisory Inc. lifted its position in Simon Property Group by 3,200.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Simon Property Group during the first quarter worth about $33,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Simon Property Group during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

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

Simon Property Group Price Performance

Shares of NYSE:SPG traded up $0.38 during trading on Monday, hitting $152.83. 771,231 shares of the company were exchanged, compared to its average volume of 1,470,315. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $158.50. The company has a market capitalization of $49.81 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 8.86 and a beta of 1.75. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The business’s 50 day moving average is $149.67 and its 200-day moving average is $147.80.

Simon Property Group (NYSE:SPG) last issued 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 firm had revenue of $1.44 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.74 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 101.91%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the purchase, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.50% 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.