Chevy Chase Trust Holdings LLC Has $26.09 Million Stock Holdings in Simon Property Group, Inc. $SPG

Chevy Chase Trust Holdings LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the second quarter, HoldingsChannel.com reports. The fund owned 162,305 shares of the real estate investment trust’s stock after acquiring an additional 968 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Simon Property Group were worth $26,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SPG. Capital Advisors Inc. OK lifted its position in Simon Property Group by 0.5% during the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after purchasing an additional 2,064 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in shares of Simon Property Group in the 2nd quarter valued at approximately $283,000. Focus Partners Wealth raised its position in shares of Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after buying an additional 53,764 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 509 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after acquiring an additional 1,750 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus restated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Evercore ISI lifted their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday. Morgan Stanley boosted their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. JPMorgan Chase & Co. upped their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Finally, LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $187.31.

Insiders Place Their Bets

In other Simon Property Group news, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary M. Rodkin acquired 219 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the acquisition, the director owned 19,229 shares in the company, valued at $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,163 shares of company stock worth $401,605 over the last quarter. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Up 0.8%

Shares of SPG opened at $178.23 on Friday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The stock has a market capitalization of $58.19 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 12.96 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a fifty day moving average of $179.20 and a 200-day moving average of $166.34.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 EPS. Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $2.15 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s payout ratio is currently 132.92%.

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.