Janney Capital Management LLC Has $12.15 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Janney Capital Management LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,138 shares of the real estate investment trust's stock after selling 3,985 shares during the period. Janney Capital Management LLC's holdings in Simon Property Group were worth $12,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock worth $1,577,600,000 after purchasing an additional 230,982 shares in the last quarter. Northern Trust Corp boosted its holdings in Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. grew its position in Simon Property Group by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after purchasing an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. grew its position in Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after purchasing an additional 542,511 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

SPG traded down $0.16 during trading hours on Thursday, reaching $156.97. The company's stock had a trading volume of 1,476,013 shares, compared to its average volume of 1,546,178. The company's 50-day moving average is $158.31 and its 200-day moving average is $168.00. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The firm has a market cap of $51.24 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 8.76 and a beta of 1.47. 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 (NYSE:SPG - Get Free Report) last released 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 the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.56 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current 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 issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler cut their price target on shares of 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. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Mizuho decreased their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. JPMorgan Chase & Co. dropped 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. Finally, Scotiabank raised their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average target price of $179.44.

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.