Heritage Trust Co Buys New Stake in Simon Property Group, Inc. (NYSE:SPG)

Heritage Trust Co purchased a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,527 shares of the real estate investment trust's stock, valued at approximately $780,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in shares of Simon Property Group during the third quarter valued at approximately $155,000. EP Wealth Advisors LLC boosted its position in Simon Property Group by 28.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust's stock valued at $313,000 after acquiring an additional 413 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Simon Property Group by 13.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust's stock valued at $1,714,000 after acquiring an additional 1,192 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Simon Property Group by 5.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,114 shares of the real estate investment trust's stock worth $1,040,000 after acquiring an additional 321 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Simon Property Group by 8.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,978 shares of the real estate investment trust's stock worth $672,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

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Simon Property Group Trading Down 0.3 %

Shares of SPG traded down $0.52 during midday trading on Tuesday, hitting $149.35. 1,203,463 shares of the stock were exchanged, compared to its average volume of 1,500,621. The stock has a fifty day simple moving average of $169.49 and a 200 day simple moving average of $173.17. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market cap of $48.73 billion, a P/E ratio of 20.57, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.62%. Simon Property Group's payout ratio is 115.70%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SPG shares. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price on the stock in a research report on Wednesday, April 9th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $181.39.

About Simon Property Group

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.