Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,174 shares of the real estate investment trust's stock after selling 6,400 shares during the quarter. Douglas Lane & Associates LLC owned about 0.07% of Simon Property Group worth $38,892,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter worth $30,000. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the 4th quarter worth $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Stifel Nicolaus upped 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 cut their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Scotiabank lowered their price target 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $179.20.

Simon Property Group Trading Up 0.0%

Shares of NYSE SPG traded up $0.02 during trading on Wednesday, reaching $161.80. The stock had a trading volume of 994,740 shares, compared to its average volume of 1,549,401. 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 has a market cap of $52.82 billion, a P/E ratio of 22.29, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The business's 50-day moving average price is $157.17 and its 200-day moving average price is $169.64.

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 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.56 EPS. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

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 paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, June 9th. Simon Property Group's payout ratio is currently 133.76%.

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.