Stock Yards Bank & Trust Co. Sells 98 Shares of Simon Property Group, Inc. (NYSE:SPG)

Stock Yards Bank & Trust Co. trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,902 shares of the real estate investment trust’s stock after selling 98 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Simon Property Group were worth $289,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after buying an additional 421,560 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Simon Property Group by 134.3% in the fourth quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock worth $80,424,000 after buying an additional 323,168 shares during the last quarter. Castle Hook Partners LP boosted its stake in shares of Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock worth $75,223,000 after acquiring an additional 310,207 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after acquiring an additional 261,430 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of the firm’s stock in a transaction on 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SPG shares. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a report on Monday. Argus boosted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Scotiabank boosted 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 report on Monday, August 26th. Finally, Mizuho raised their price target 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

NYSE SPG opened at $164.35 on Thursday. The company’s fifty day moving average is $158.49 and its two-hundred day moving average is $151.92. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $169.18. 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 firm has a market capitalization of $53.57 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 8.97 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released 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). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business earned $2.88 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $2.05 per share. The ex-dividend date is Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.99%. Simon Property Group’s payout ratio is currently 104.46%.

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.