Cetera Advisor Networks LLC Sells 2,013 Shares of Simon Property Group, Inc. (NYSE:SPG)

Cetera Advisor Networks LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,178 shares of the real estate investment trust’s stock after selling 2,013 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Simon Property Group were worth $4,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SPG. Norges Bank bought a new stake in Simon Property Group during the fourth quarter valued at approximately $2,561,181,000. International Assets Investment Management LLC lifted its position in Simon Property Group by 13,226.4% during the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after purchasing an additional 913,678 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Simon Property Group by 11,722.9% during the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after purchasing an additional 667,034 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Simon Property Group by 160.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after acquiring an additional 469,855 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Simon Property Group by 65.3% during the third quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock worth $92,278,000 after acquiring an additional 337,430 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.2 %

Shares of Simon Property Group stock opened at $152.04 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The company’s fifty day simple moving average is $146.71 and its two-hundred day simple moving average is $144.81. The company has a market cap of $49.56 billion, a P/E ratio of 19.37, a PEG ratio of 9.03 and a beta of 1.71. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.74 earnings per share. Research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $2.00 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Friday, June 7th. Simon Property Group’s payout ratio is presently 101.91%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI lifted their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Scotiabank lifted their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley lifted their price target on shares of 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. Finally, Truist Financial lifted 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 note on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Get Our Latest Stock Analysis on Simon Property Group

Simon Property Group Profile

(Free Report)

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.

Further Reading

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

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