Charter Trust Co. Has $1.19 Million Stake in Simon Property Group Inc (SPG)

Charter Trust Co. increased its position in Simon Property Group Inc (NYSE:SPG) by 37.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,713 shares of the real estate investment trust’s stock after purchasing an additional 1,815 shares during the quarter. Charter Trust Co.’s holdings in Simon Property Group were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Simon Property Group by 1.2% in the second quarter. BlackRock Inc. now owns 30,623,068 shares of the real estate investment trust’s stock valued at $5,211,739,000 after purchasing an additional 350,087 shares during the period. FMR LLC boosted its stake in shares of Simon Property Group by 3.8% in the third quarter. FMR LLC now owns 6,718,524 shares of the real estate investment trust’s stock valued at $1,187,499,000 after purchasing an additional 248,169 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Simon Property Group by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,625,786 shares of the real estate investment trust’s stock valued at $817,601,000 after purchasing an additional 26,984 shares during the period. PGGM Investments boosted its stake in shares of Simon Property Group by 1.6% in the third quarter. PGGM Investments now owns 3,746,811 shares of the real estate investment trust’s stock valued at $662,249,000 after purchasing an additional 57,811 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Simon Property Group by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 3,460,071 shares of the real estate investment trust’s stock valued at $611,567,000 after purchasing an additional 445,506 shares during the period. Institutional investors and hedge funds own 92.99% of the company’s stock.

SPG has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research note on Thursday, October 4th. Bank of America increased their price objective on shares of Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Argus increased their price objective on shares of Simon Property Group to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 11th. Citigroup increased their price objective on shares of Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, October 30th. Finally, Deutsche Bank set a $191.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research note on Friday, November 30th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $193.27.

In other Simon Property Group news, insider John Rulli sold 6,000 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total transaction of $1,119,120.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.64% of the stock is currently owned by corporate insiders.

NYSE SPG opened at $188.42 on Friday. Simon Property Group Inc has a 12 month low of $145.78 and a 12 month high of $191.16. The company has a debt-to-equity ratio of 6.14, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $59.29 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.57 and a beta of 0.42.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.07. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. On average, research analysts expect that Simon Property Group Inc will post 12.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were issued a dividend of $2.00 per share. The ex-dividend date was Thursday, November 15th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.25%. Simon Property Group’s dividend payout ratio (DPR) is 71.36%.

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Simon Property Group Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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