Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Vanderbilt University

Vanderbilt University lowered its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,084 shares of the real estate investment trust's stock after selling 5,261 shares during the period. Simon Property Group makes up approximately 0.8% of Vanderbilt University's portfolio, making the stock its 26th biggest holding. Vanderbilt University's holdings in Simon Property Group were worth $4,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Walter & Keenan Wealth Management LLC IN ADV lifted its position in Simon Property Group by 3.6% in the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 2,271 shares of the real estate investment trust's stock valued at $377,000 after purchasing an additional 79 shares during the period. Blue Trust Inc. increased its position in Simon Property Group by 28.3% during the 1st quarter. Blue Trust Inc. now owns 1,643 shares of the real estate investment trust's stock worth $273,000 after purchasing an additional 362 shares during the period. Autumn Glory Partners LLC lifted its holdings in shares of Simon Property Group by 32.3% in the 1st quarter. Autumn Glory Partners LLC now owns 3,585 shares of the real estate investment trust's stock valued at $595,000 after buying an additional 875 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at approximately $476,000. Finally, TTP Investments Inc. boosted its stake in shares of Simon Property Group by 1.6% in the first quarter. TTP Investments Inc. now owns 58,314 shares of the real estate investment trust's stock valued at $9,685,000 after buying an additional 915 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho reduced their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Scotiabank increased their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded 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 four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $179.44.

Simon Property Group Price Performance

Shares of SPG traded up $0.24 during mid-day trading on Friday, reaching $157.34. 2,806,493 shares of the company's stock were exchanged, compared to its average volume of 1,551,184. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a market cap of $51.36 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 8.76 and a beta of 1.47. The company has a 50-day simple moving average of $158.69 and a two-hundred day simple moving average of $167.67.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $3.56 earnings per share. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.34%. Simon Property Group's dividend 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.