AMG National Trust Bank Takes $318,000 Position in Simon Property Group, Inc. (NYSE:SPG)

AMG National Trust Bank bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,845 shares of the real estate investment trust’s stock, valued at approximately $318,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after acquiring an additional 64,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after acquiring an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. increased its position in shares of Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after acquiring an additional 88,378 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after acquiring an additional 25,519 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after acquiring an additional 98,366 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $170.97 on Friday. The stock has a market cap of $55.78 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a fifty day moving average of $178.03 and a 200-day moving average of $174.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPG shares. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $178.44.

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.