Keybank National Association OH Buys 354 Shares of Simon Property Group, Inc. $SPG

Keybank National Association OH grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.6% in the second quarter, Holdings Channel reports. The institutional investor owned 6,693 shares of the real estate investment trust’s stock after acquiring an additional 354 shares during the period. Keybank National Association OH’s holdings in Simon Property Group were worth $1,076,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC increased its stake in shares of Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock worth $2,213,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 68 shares during the last quarter. Wedmont Private Capital raised its holdings in Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after buying an additional 68 shares during the last quarter. PFS Partners LLC raised its holdings in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 68 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in Simon Property Group by 1.6% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock valued at $743,000 after purchasing an additional 70 shares during the period. 93.01% of the stock is owned by institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel acquired 208 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,163 shares of company stock valued at $401,605 in the last three months. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Trading Up 1.5%

Shares of SPG stock opened at $175.95 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a market capitalization of $57.45 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The business’s 50 day moving average is $180.19 and its two-hundred day moving average is $168.67.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $2.90 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Truist Financial raised their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Morgan Stanley lifted their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Scotiabank lifted their target price on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Finally, Barclays upped their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $187.31.

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.