Choreo LLC Buys 5,333 Shares of Simon Property Group, Inc. (NYSE:SPG)

Choreo LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 54.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,069 shares of the real estate investment trust's stock after purchasing an additional 5,333 shares during the quarter. Choreo LLC's holdings in Simon Property Group were worth $2,503,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Simon Property Group in the fourth quarter worth approximately $2,059,505,000. Geode Capital Management LLC lifted its holdings 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 valued at $1,577,600,000 after acquiring an additional 230,982 shares during the period. Northern Trust Corp increased its stake in shares of Simon Property Group by 45.9% in the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after buying an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the purchase, the director owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reuben S. Leibowitz acquired 522 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director directly owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,386 shares of company stock valued at $380,066 over the last ninety days. Insiders own 8.66% of the company's stock.

Simon Property Group Trading Up 1.2%

Shares of SPG stock traded up $2.03 on Friday, hitting $166.99. The company had a trading volume of 1,374,659 shares, compared to its average volume of 1,638,938. The firm has a market cap of $54.51 billion, a P/E ratio of 26.59, a P/E/G ratio of 11.19 and a beta of 1.43. The stock's 50-day moving average is $161.39 and its two-hundred day moving average is $165.52. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter last year, the firm posted $3.56 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. On average, equities research 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.03%. Simon Property Group's dividend payout ratio is currently 133.76%.

Analysts Set New Price Targets

SPG has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective 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 dropped their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Barclays initiated coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective on the stock. Finally, Scotiabank increased their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average price target of $182.73.

Simon Property Group 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.