First Hawaiian Bank Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

First Hawaiian Bank grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,294 shares of the real estate investment trust’s stock after acquiring an additional 1,372 shares during the period. First Hawaiian Bank’s holdings in Simon Property Group were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Aptus Capital Advisors LLC lifted its position in shares of Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the period. Groupama Asset Managment increased its holdings in shares of Simon Property Group by 0.9% in the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock worth $1,305,000 after purchasing an additional 67 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares during the period. Finally, Avestar Capital LLC increased its holdings in shares of Simon Property Group by 2.8% in the third quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 2.1 %

Shares of NYSE:SPG opened at $171.01 on Friday. The stock’s 50-day moving average price is $177.38 and its 200-day moving average price is $166.85. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The stock has a market capitalization of $55.80 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $3.20 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio is currently 111.85%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SPG shares. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $172.10.

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.