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

Chevy Chase Trust Holdings LLC raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 institutional investors have also made changes to their positions in the business. Trust Co. of Toledo NA OH acquired a new stake in Simon Property Group in the 2nd quarter valued at $25,000. Park Square Financial Group LLC grew its holdings in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC raised its holdings in Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Simon Property Group during the first quarter valued at approximately $47,000. Institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin purchased 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the purchase, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel purchased 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the transaction, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,163 shares of company stock worth $401,605. 8.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SPG has been the topic of several recent analyst reports. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price target on the stock. Barclays upped their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday. Argus reaffirmed a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Finally, Morgan Stanley lifted 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. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $187.31.

Simon Property Group Stock Performance

NYSE SPG opened at $178.23 on Friday. The stock has a market cap of $58.19 billion, a PE ratio of 27.55, a P/E/G 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 firm has a 50-day moving average of $179.20 and a 200-day moving average of $166.34. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

About Simon Property Group

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.