Alpha Omega Wealth Management LLC Has $7.04 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Alpha Omega Wealth Management LLC trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,379 shares of the real estate investment trust’s stock after selling 1,435 shares during the quarter. Simon Property Group makes up about 1.3% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 18th biggest holding. Alpha Omega Wealth Management LLC’s holdings in Simon Property Group were worth $7,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Pitcairn Co. raised its holdings in shares of Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after buying an additional 55 shares in the last quarter. Colonial Trust Co SC grew its position in Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 57 shares during the last quarter. HighPoint Advisor Group LLC grew its position in Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after acquiring an additional 60 shares during the last quarter. Financial Management Network Inc. raised its stake in Simon Property Group by 0.4% during the fourth quarter. Financial Management Network Inc. now owns 15,147 shares of the real estate investment trust’s stock worth $2,667,000 after acquiring an additional 67 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Simon Property Group by 1.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $161.06 on Wednesday. The company has a market capitalization of $52.57 billion, a P/E ratio of 22.18, a PEG ratio of 10.10 and a beta of 1.47. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a fifty day moving average price of $156.88 and a 200-day moving average price of $168.94. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.56 earnings per share. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

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 paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Monday, June 9th. Simon Property Group’s dividend payout ratio is currently 133.76%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SPG shares. Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. JPMorgan Chase & Co. cut 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 research report on Thursday, May 22nd. Mizuho decreased their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday. Scotiabank dropped their price target on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus raised their price objective on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.90.

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.