Trade Report: Today: 470,691 Shares of Simon Property Group Inc. (SPG) are sold by JPMorgan Chase & Co.

Today: 470,691 Shares of Simon Property Group Inc. (SPG) are sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Simon Property Group Inc. (NYSE:SPG) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,742,262 shares of the real estate investment trust’s stock after selling 470,691 shares during the period. JPMorgan Chase & Co. owned 1.51% of Simon Property Group worth $981,695,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its position in shares of Simon Property Group by 12.0% in the second quarter. Cohen & Steers Inc. now owns 20,623,882 shares of the real estate investment trust’s stock valued at $4,473,320,000 after buying an additional 2,211,682 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Simon Property Group during the second quarter valued at $353,414,000. FMR LLC boosted its position in shares of Simon Property Group by 13.4% in the second quarter. FMR LLC now owns 8,977,196 shares of the real estate investment trust’s stock valued at $1,947,153,000 after buying an additional 1,059,026 shares during the period. Standard Life Investments LTD boosted its position in shares of Simon Property Group by 457.8% in the third quarter. Standard Life Investments LTD now owns 1,129,716 shares of the real estate investment trust’s stock valued at $233,879,000 after buying an additional 927,203 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Simon Property Group by 2.2% in the second quarter. Vanguard Group Inc. now owns 43,418,797 shares of the real estate investment trust’s stock valued at $9,417,537,000 after buying an additional 923,572 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Inc. (NYSE:SPG) traded up 0.04% during midday trading on Monday, hitting $181.37. The stock had a trading volume of 467,952 shares. The company has a market capitalization of $56.99 billion, a PE ratio of 30.89 and a beta of 0.65. Simon Property Group Inc. has a 1-year low of $174.91 and a 1-year high of $229.10. The stock’s 50-day moving average is $187.96 and its 200-day moving average is $205.25.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.02. Simon Property Group had a return on equity of 36.22% and a net margin of 35.37%. The business earned $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business posted $2.54 EPS. Simon Property Group’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Simon Property Group Inc. will post $10.80 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be paid a $1.65 dividend. The ex-dividend date is Monday, November 14th. This represents a $6.60 dividend on an annualized basis and a yield of 3.64%. Simon Property Group’s payout ratio is presently 112.25%.

Several equities analysts have recently weighed in on the company. Deutsche Bank AG lifted their price target on Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Argus set a $245.00 price target on Simon Property Group and gave the company a “buy” rating in a research report on Thursday, August 11th. Zacks Investment Research cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. RBC Capital Markets cut Simon Property Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $220.00 to $230.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Vetr upgraded Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 price target for the company in a research report on Tuesday, August 2nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $236.24.

In other news, SVP Steven K. Broadwater sold 945 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the transaction, the senior vice president now owns 2,965 shares in the company, valued at $638,690.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is owned by company insiders.

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