Chevy Chase Trust Holdings LLC Sells 3,385 Shares of Simon Property Group, Inc. (NYSE:SPG)

Chevy Chase Trust Holdings LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,539 shares of the real estate investment trust's stock after selling 3,385 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Simon Property Group were worth $27,819,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Childress Capital Advisors LLC grew its holdings in shares of Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 59 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust's stock valued at $273,000 after purchasing an additional 61 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock valued at $1,074,000 after purchasing an additional 62 shares during the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust's stock valued at $696,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price on the stock. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $175.10.

Simon Property Group Trading Down 0.1 %

Shares of NYSE:SPG traded down $0.16 on Wednesday, hitting $185.88. The company had a trading volume of 778,215 shares, compared to its average volume of 1,303,329. The firm's 50-day simple moving average is $175.91 and its two-hundred day simple moving average is $172.16. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13. 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 firm has a market capitalization of $60.65 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 10.00 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.52%. Simon Property Group's dividend payout ratio is 115.70%.

Simon Property Group Company 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.