Intrust Bank NA lifted its stake in shares of Simon Property Group Inc (NYSE:SPG) by 1.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,605 shares of the real estate investment trust’s stock after purchasing an additional 88 shares during the period. Intrust Bank NA’s holdings in Simon Property Group were worth $839,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SPG. Capital Investment Advisory Services LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC boosted its holdings in Simon Property Group by 150.0% in the first quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Lindbrook Capital LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $35,000. Legacy Advisors LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $36,000. Finally, Sontag Advisory LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $37,000. 95.61% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on SPG. Wells Fargo & Co downgraded Simon Property Group from an “overweight” rating to a “market weight” rating in a report on Friday, February 8th. Mizuho downgraded Simon Property Group to a “hold” rating and set a $193.00 price target for the company. in a report on Tuesday, February 26th. Barclays reaffirmed a “buy” rating and issued a $202.00 price target on shares of Simon Property Group in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $192.20.

NYSE SPG traded down $0.13 on Monday, reaching $161.96. The stock had a trading volume of 229,124 shares, compared to its average volume of 1,434,546. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.34. Simon Property Group Inc has a 12-month low of $158.21 and a 12-month high of $191.49. The stock has a market cap of $50.08 billion, a P/E ratio of 13.35, a P/E/G ratio of 2.95 and a beta of 0.56.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.02. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Simon Property Group Inc will post 12.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 5.06%. The ex-dividend date was Thursday, May 16th. Simon Property Group’s dividend payout ratio (DPR) is presently 67.60%.

Simon Property Group announced that its board has approved a stock buyback program on Tuesday, February 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider John Rulli sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the sale, the insider now owns 29,646 shares in the company, valued at $5,222,735.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.75% of the stock is owned by corporate insiders.

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Simon Property Group Company Profile

Simon is a global leader 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.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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