Castle Rock Wealth Management LLC Sells 1,986 Shares of Simon Property Group, Inc. (NYSE:SPG)

Castle Rock Wealth Management LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,894 shares of the real estate investment trust's stock after selling 1,986 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Simon Property Group were worth $1,143,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Pitcairn Co. boosted its stake in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 55 shares in the last quarter. Colonial Trust Co SC boosted its stake in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 57 shares in the last quarter. Childress Capital Advisors LLC lifted its stake in shares of Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock worth $291,000 after acquiring an additional 58 shares during the period. Global X Japan Co. Ltd. lifted its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock worth $113,000 after acquiring an additional 59 shares during the period. Finally, HighPoint Advisor Group LLC lifted its stake in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after acquiring an additional 60 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $0.14 on Thursday, hitting $161.48. The company's stock had a trading volume of 321,227 shares, compared to its average volume of 1,545,951. The company has a 50-day simple moving average of $157.12 and a 200 day simple moving average of $169.58. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a market capitalization of $52.71 billion, a PE ratio of 22.24, a PEG ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $3.56 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given 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 5.20%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank decreased their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler cut their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Stifel Nicolaus boosted their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average target price of $179.20.

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.