2,075 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Cetera Trust Company N.A

Cetera Trust Company N.A acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,075 shares of the real estate investment trust’s stock, valued at approximately $296,000.

A number of other large investors have also added to or reduced their stakes in the stock. CWM LLC increased its holdings in Simon Property Group by 7.8% during the fourth quarter. CWM LLC now owns 6,914 shares of the real estate investment trust’s stock worth $986,000 after buying an additional 502 shares during the last quarter. Vicus Capital purchased a new stake in Simon Property Group during the fourth quarter worth about $263,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Simon Property Group by 1.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,759 shares of the real estate investment trust’s stock worth $12,518,000 after buying an additional 1,380 shares during the last quarter. Signaturefd LLC boosted its position in Simon Property Group by 3.7% during the fourth quarter. Signaturefd LLC now owns 4,947 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 175 shares during the period. Finally, Carmel Capital Partners LLC boosted its position in Simon Property Group by 3.5% during the fourth quarter. Carmel Capital Partners LLC now owns 6,719 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI increased their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Finally, Truist Financial increased their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Price Performance

SPG stock opened at $141.00 on Monday. The firm has a 50 day moving average of $149.36 and a 200-day moving average of $135.92. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The firm has a market capitalization of $45.95 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the business posted $3.15 earnings per share. Simon Property Group’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $1.95 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.53%. Simon Property Group’s payout ratio is presently 111.75%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged 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.