Castle Rock Wealth Management LLC Sells 1,986 Shares of Simon Property Group, Inc. (NYSE:SPG)

Castle Rock Wealth Management LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,894 shares of the real estate investment trust’s stock after selling 1,986 shares during the period. Castle Rock Wealth Management LLC’s holdings in Simon Property Group were worth $1,143,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its position in Simon Property Group by 4.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,801 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 162 shares during the period. Fulcrum Capital LLC increased its position in shares of Simon Property Group by 16.1% during the first quarter. Fulcrum Capital LLC now owns 2,607 shares of the real estate investment trust’s stock worth $433,000 after acquiring an additional 361 shares during the period. GAMMA Investing LLC raised its stake in shares of Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust’s stock valued at $145,608,000 after acquiring an additional 871,405 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 95 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Simon Property Group by 17.1% in the first quarter. Quent Capital LLC now owns 588 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.2%

SPG opened at $162.98 on Friday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The stock has a fifty day moving average price of $157.36 and a 200-day moving average price of $169.87.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.56 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s payout ratio is currently 133.76%.

Analyst Ratings Changes

Several research analysts have commented on SPG shares. Scotiabank reduced their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler decreased their price objective on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $179.20.

Simon Property Group Company 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.