Simon Property Group (NYSE:SPG – Free Report) had its target price lowered by Truist Financial from $130.00 to $125.00 in a report published on Tuesday morning, Marketbeat reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.
SPG has been the topic of several other reports. Wolfe Research upgraded shares of Simon Property Group from a peer perform rating to an outperform rating and set a $127.00 price objective on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $130.00 to $139.00 in a research note on Wednesday, July 12th. StockNews.com assumed coverage on shares of Simon Property Group in a research note on Thursday, August 17th. They set a hold rating on the stock. Finally, Mizuho decreased their price target on shares of Simon Property Group from $116.00 to $106.00 in a research note on Friday, May 26th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $128.36.
Simon Property Group Stock Up 1.7 %
Simon Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $1.90 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date is Thursday, September 7th. This represents a $7.60 dividend on an annualized basis and a yield of 6.69%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.50%.
Institutional Trading of Simon Property Group
A number of hedge funds and other institutional investors have recently bought and sold shares of SPG. AMI Investment Management Inc. increased its stake in Simon Property Group by 1.2% in the first quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock worth $2,312,000 after purchasing an additional 204 shares during the period. Raymond James Trust N.A. increased its stake in shares of Simon Property Group by 9.8% during the first quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock valued at $544,000 after buying an additional 371 shares during the period. Blair William & Co. IL increased its stake in shares of Simon Property Group by 56.8% during the first quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after buying an additional 20,022 shares during the period. Prudential PLC purchased a new position in shares of Simon Property Group during the first quarter valued at $642,000. Finally, Dakota Wealth Management bought a new stake in Simon Property Group during the first quarter valued at about $390,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.
About Simon Property Group
Simon is a real estate investment trust engaged 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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