Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Chevy Chase Trust Holdings LLC lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,539 shares of the real estate investment trust’s stock after selling 3,385 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Simon Property Group were worth $27,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the third quarter worth approximately $834,000. First Hawaiian Bank boosted its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC boosted its stake in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after buying an additional 10,644 shares in the last quarter. Versant Capital Management Inc boosted its stake in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Simon Property Group in the fourth quarter worth approximately $416,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price 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 $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho boosted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $175.10.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $185.12 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market cap of $60.40 billion, a PE ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74. The business has a 50 day moving average of $175.69 and a 200 day moving average of $171.22. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.54%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

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.