Alpha Omega Wealth Management LLC Sells 1,435 Shares of Simon Property Group, Inc. (NYSE:SPG)

Alpha Omega Wealth Management LLC lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,379 shares of the real estate investment trust’s stock after selling 1,435 shares during the period. Simon Property Group comprises 1.3% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Alpha Omega Wealth Management LLC’s holdings in Simon Property Group were worth $7,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. InTrack Investment Management Inc raised its position in Simon Property Group by 16.0% in the 1st quarter. InTrack Investment Management Inc now owns 5,500 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 757 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $717,000. Integrated Advisors Network LLC lifted its holdings in Simon Property Group by 4.8% during the 1st quarter. Integrated Advisors Network LLC now owns 19,764 shares of the real estate investment trust’s stock worth $3,282,000 after buying an additional 903 shares in the last quarter. SG Americas Securities LLC boosted its position in Simon Property Group by 782.1% in the 1st quarter. SG Americas Securities LLC now owns 63,080 shares of the real estate investment trust’s stock valued at $10,476,000 after buying an additional 55,929 shares during the last quarter. Finally, Signet Financial Management LLC increased its stake in shares of Simon Property Group by 0.7% in the 1st quarter. Signet Financial Management LLC now owns 11,894 shares of the real estate investment trust’s stock valued at $1,975,000 after buying an additional 83 shares during the period. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPG. Stifel Nicolaus raised their price target on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Mizuho cut their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $177.90.

Simon Property Group Stock Up 0.4%

Shares of SPG stock opened at $161.06 on Wednesday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. 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 fifty day moving average of $156.88 and a 200-day moving average of $168.94. The company has a market capitalization of $52.57 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 10.10 and a beta of 1.47.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.56 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.22%. Simon Property Group’s dividend payout ratio is currently 133.76%.

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.