JDM Financial Group LLC Sells 111 Shares of Simon Property Group, Inc. (NYSE:SPG)

JDM Financial Group LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.2% in the 4th quarter, HoldingsChannel reports. The firm owned 2,555 shares of the real estate investment trust’s stock after selling 111 shares during the quarter. JDM Financial Group LLC’s holdings in Simon Property Group were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Simon Property Group in the fourth quarter worth $2,059,505,000. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock valued at $1,577,600,000 after buying an additional 230,982 shares during the last quarter. Northern Trust Corp grew its stake in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after acquiring an additional 1,718,398 shares during the period. JPMorgan Chase & Co. increased its holdings in Simon Property Group by 5.5% in 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 acquiring an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Simon Property Group by 14.8% in the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock worth $726,136,000 after acquiring an additional 542,511 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SPG shares. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $179.67.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $162.89 on Wednesday. The company has a 50 day moving average of $158.13 and a 200 day moving average of $170.81. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market cap of $53.17 billion, a P/E ratio of 22.44, a P/E/G ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $3.56 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.16%. The ex-dividend date is Monday, June 9th. Simon Property Group’s payout ratio is 133.76%.

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.