Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.1% during the first quarter, Holdings Channel.com reports. The firm owned 161,337 shares of the real estate investment trust’s stock after selling 202 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Simon Property Group were worth $26,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SPG. Brighton Jones LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $295,000. Howard Capital Management Inc. lifted its stake in shares of Simon Property Group by 5.1% in the fourth quarter. Howard Capital Management Inc. now owns 2,217 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 108 shares during the period. IFP Advisors Inc boosted its holdings in Simon Property Group by 4.4% during the fourth quarter. IFP Advisors Inc now owns 3,735 shares of the real estate investment trust’s stock worth $643,000 after buying an additional 159 shares in the last quarter. Lake Street Advisors Group LLC grew its position in Simon Property Group by 181.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 19,517 shares of the real estate investment trust’s stock worth $3,361,000 after buying an additional 12,590 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in Simon Property Group by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,315 shares of the real estate investment trust’s stock valued at $4,532,000 after buying an additional 110 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 0.6%

Shares of SPG opened at $160.08 on Wednesday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The firm has a market capitalization of $52.25 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 8.87 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The stock’s fifty day simple moving average is $159.08 and its 200 day simple moving average is $167.25.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $3.56 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date is Monday, June 9th. Simon Property Group’s dividend payout ratio is presently 133.76%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SPG shares. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Scotiabank upped their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a report on Tuesday, June 17th. Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Finally, Mizuho cut their price target on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a report on Tuesday, June 10th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $179.44.

About Simon Property Group

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.