Moody National Bank Trust Division Increases Holdings in Simon Property Group Inc (SPG)

Moody National Bank Trust Division boosted its stake in Simon Property Group Inc (NYSE:SPG) by 132.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,079 shares of the real estate investment trust’s stock after purchasing an additional 5,749 shares during the period. Moody National Bank Trust Division’s holdings in Simon Property Group were worth $1,782,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SPG. Advisors Asset Management Inc. raised its position in Simon Property Group by 9,319.7% in the second quarter. Advisors Asset Management Inc. now owns 992,926 shares of the real estate investment trust’s stock worth $1,772,000 after acquiring an additional 982,385 shares during the period. BlackRock Inc. raised its position in Simon Property Group by 1.2% in the second quarter. BlackRock Inc. now owns 30,623,068 shares of the real estate investment trust’s stock worth $5,211,739,000 after acquiring an additional 350,087 shares during the period. American Century Companies Inc. raised its position in Simon Property Group by 53.2% in the second quarter. American Century Companies Inc. now owns 793,973 shares of the real estate investment trust’s stock worth $135,126,000 after acquiring an additional 275,845 shares during the period. Natixis raised its position in Simon Property Group by 430.5% in the second quarter. Natixis now owns 299,367 shares of the real estate investment trust’s stock worth $50,949,000 after acquiring an additional 242,940 shares during the period. Finally, Centersquare Investment Management LLC increased its stake in shares of Simon Property Group by 7.3% in the second quarter. Centersquare Investment Management LLC now owns 3,070,931 shares of the real estate investment trust’s stock worth $522,642,000 after purchasing an additional 208,486 shares in the last quarter. 92.72% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Simon Property Group from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Jefferies Financial Group reiterated a “$170.72” rating and issued a $194.00 target price on shares of Simon Property Group in a research note on Wednesday, July 18th. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Bank of America lifted their target price on shares of Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Finally, JPMorgan Chase & Co. upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating in a research note on Friday, October 5th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $195.42.

In related news, insider John Rulli sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total transaction of $1,119,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.64% of the stock is currently owned by insiders.

Shares of NYSE:SPG opened at $180.41 on Friday. The company has a market cap of $57.79 billion, a P/E ratio of 15.01, a PEG ratio of 2.45 and a beta of 0.40. Simon Property Group Inc has a 12 month low of $145.78 and a 12 month high of $188.21. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, beating the consensus estimate of $1.73 by $0.07. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. As a group, equities research analysts anticipate that Simon Property Group Inc will post 12.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $8.00 annualized dividend and a yield of 4.43%. Simon Property Group’s dividend payout ratio is currently 71.36%.

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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