Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Edgar Lomax Co. VA

Edgar Lomax Co. VA trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 72.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,820 shares of the real estate investment trust's stock after selling 171,955 shares during the quarter. Edgar Lomax Co. VA's holdings in Simon Property Group were worth $11,335,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SPG. Norges Bank purchased a new position in shares of Simon Property Group during the 4th quarter worth $2,059,505,000. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock worth $1,577,600,000 after purchasing an additional 230,982 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after buying an additional 246,630 shares during the period. Invesco Ltd. grew its stake in Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after purchasing an additional 542,511 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock valued at $626,419,000 after purchasing an additional 64,418 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPG. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank reduced their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday. Finally, Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a report on Wednesday, April 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of "Moderate Buy" and an average price target of $178.39.

Simon Property Group Price Performance

SPG stock traded up $2.76 on Wednesday, reaching $153.47. The company had a trading volume of 1,862,340 shares, compared to its average volume of 1,509,725. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company's fifty day moving average is $165.52 and its 200 day moving average is $172.32. The company has a market cap of $50.07 billion, a P/E ratio of 21.14, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. On average, 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.47%. Simon Property Group's payout ratio is currently 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.