Cerity Partners LLC Has $1.70 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Cerity Partners LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 66.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,939 shares of the real estate investment trust’s stock after acquiring an additional 4,750 shares during the quarter. Cerity Partners LLC’s holdings in Simon Property Group were worth $1,703,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. AMI Investment Management Inc. boosted its stake in shares of Simon Property Group by 1.2% during the first quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock valued at $2,312,000 after purchasing an additional 204 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Simon Property Group by 9.8% during the first quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 371 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Simon Property Group by 56.8% during the first quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after purchasing an additional 20,022 shares in the last quarter. Prudential PLC acquired a new stake in shares of Simon Property Group during the first quarter valued at about $642,000. Finally, Dakota Wealth Management acquired a new stake in shares of Simon Property Group during the first quarter valued at about $390,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Simon Property Group Trading Up 0.0 %

Shares of SPG stock opened at $140.44 on Friday. The company has a market cap of $45.77 billion, a P/E ratio of 20.12, a PEG ratio of 7.37 and a beta of 1.65. The stock has a 50 day simple moving average of $149.36 and a two-hundred day simple moving average of $135.48. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $1.95 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s payout ratio is presently 111.75%.

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

Simon Property Group 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.