Simon Property Group Inc (SPG) Holdings Trimmed by FineMark National Bank & Trust

FineMark National Bank & Trust cut its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 55.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,239 shares of the real estate investment trust’s stock after selling 1,520 shares during the period. FineMark National Bank & Trust’s holdings in Simon Property Group were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC lifted its holdings in shares of Simon Property Group by 2.5% in the second quarter. Dynamic Advisor Solutions LLC now owns 11,601 shares of the real estate investment trust’s stock valued at $1,974,000 after purchasing an additional 285 shares in the last quarter. Garland Capital Management Inc. lifted its holdings in shares of Simon Property Group by 1.5% in the second quarter. Garland Capital Management Inc. now owns 21,690 shares of the real estate investment trust’s stock valued at $3,691,000 after purchasing an additional 320 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Simon Property Group by 2.0% in the second quarter. Alps Advisors Inc. now owns 16,519 shares of the real estate investment trust’s stock valued at $2,837,000 after purchasing an additional 320 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Simon Property Group by 3.2% in the second quarter. Bogart Wealth LLC now owns 11,163 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 341 shares in the last quarter. Finally, Boenning & Scattergood Inc. lifted its holdings in shares of Simon Property Group by 5.2% in the third quarter. Boenning & Scattergood Inc. now owns 6,913 shares of the real estate investment trust’s stock valued at $1,222,000 after purchasing an additional 344 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

A number of analysts have recently commented on SPG shares. Barclays boosted their price target on Simon Property Group from $184.00 to $192.00 and gave the company an “overweight” rating in a report on Tuesday, July 17th. Jefferies Financial Group restated a “$170.72” rating and issued a $194.00 price target on shares of Simon Property Group in a report on Wednesday, July 18th. BMO Capital Markets restated a “buy” rating and issued a $175.00 price target on shares of Simon Property Group in a report on Monday, July 30th. Wells Fargo & Co boosted their price target on Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. Finally, Citigroup boosted their price target on Simon Property Group from $187.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $195.42.

NYSE:SPG opened at $188.69 on Friday. The company has a debt-to-equity ratio of 6.14, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market capitalization of $58.82 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.50 and a beta of 0.40. Simon Property Group Inc has a 52-week low of $145.78 and a 52-week high of $189.16.

Simon Property Group (NYSE:SPG) last released its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. On average, analysts anticipate that Simon Property Group Inc will post 12.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Thursday, November 15th. Simon Property Group’s dividend payout ratio is currently 71.36%.

In related news, insider John Rulli sold 6,000 shares of Simon Property Group stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total value of $1,119,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.64% of the stock is currently owned by insiders.

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About Simon Property Group

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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