Bokf Na Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Bokf Na grew its position in Simon Property Group, Inc. (NYSE:SPG) by 1,720.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,805 shares of the real estate investment trust’s stock after buying an additional 3,596 shares during the quarter. Bokf Na’s holdings in Simon Property Group were worth $578,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in shares of Simon Property Group in the 1st quarter worth $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group in the 1st quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the 2nd quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group in the 2nd quarter worth $27,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Simon Property Group in the 1st quarter worth $29,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SPG shares. Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday. Argus upped their target price 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. Finally, Scotiabank upped their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.44.

Simon Property Group Stock Up 0.2 %

Shares of SPG stock opened at $164.02 on Monday. The stock’s 50-day simple moving average is $157.48 and its 200-day simple moving average is $151.62. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $53.48 billion, a PE ratio of 20.89, a P/E/G ratio of 8.97 and a beta of 1.74. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $169.18.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company earned $2.88 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.00%. Simon Property Group’s dividend payout ratio is presently 104.46%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

About Simon Property Group

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.