Trust Co. of Vermont Buys 863 Shares of Simon Property Group, Inc. (NYSE:SPG)

Trust Co. of Vermont increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,966 shares of the real estate investment trust’s stock after acquiring an additional 863 shares during the quarter. Trust Co. of Vermont’s holdings in Simon Property Group were worth $566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its stake in shares of Simon Property Group by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after buying an additional 77 shares in the last quarter. Cascade Investment Group Inc. lifted its stake in shares of Simon Property Group by 0.5% in the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock valued at $2,097,000 after buying an additional 80 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Simon Property Group by 16.6% in the fourth quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 80 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of Simon Property Group by 2.4% in the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 81 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its stake in shares of Simon Property Group by 1.5% in the fourth 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 buying an additional 83 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Evercore ISI raised their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Truist Financial raised their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley raised their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Scotiabank lifted their target price on shares of 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.60.

Simon Property Group Trading Down 1.0 %

Simon Property Group stock traded down $1.54 during mid-day trading on Monday, reaching $147.29. 54,250 shares of the company traded hands, compared to its average volume of 1,461,521. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm’s 50 day moving average price is $146.84 and its 200 day moving average price is $145.63. The firm has a market capitalization of $48.01 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 8.85 and a beta of 1.71. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $157.82.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm posted $2.74 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts anticipate that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $2.00 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.43%. Simon Property Group’s payout ratio is presently 101.91%.

Simon Property Group Company 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.