US Bancorp DE Has $9.82 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

US Bancorp DE cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,114 shares of the real estate investment trust’s stock after selling 453 shares during the period. US Bancorp DE’s holdings in Simon Property Group were worth $9,822,000 at the end of the most recent quarter.

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

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SPG shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank increased their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho raised their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Price Performance

Simon Property Group stock opened at $167.70 on Friday. The firm has a market capitalization of $54.68 billion, a P/E ratio of 21.31, a PEG ratio of 9.61 and a beta of 1.74. Simon Property Group, Inc. has a one year low of $113.40 and a one year high of $177.08. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day moving average price of $168.55 and a 200-day moving average price of $156.39.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm earned $2.88 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.01%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Simon Property Group 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.