Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 30.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,107 shares of the real estate investment trust's stock after selling 18,545 shares during the quarter. Cetera Investment Advisers' holdings in Simon Property Group were worth $7,423,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SPG. Norges Bank acquired a new position in Simon Property Group in the 4th quarter valued at about $2,059,505,000. Northern Trust Corp grew its stake in shares of Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. Capital World Investors acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $119,777,000. Hamlin Capital Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $109,403,000. Finally, KBC Group NV raised its stake in shares of Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock worth $151,597,000 after purchasing an additional 554,605 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group currently has an average rating of "Moderate Buy" and an average target price of $179.67.

Simon Property Group Price Performance

SPG traded up $2.12 on Friday, hitting $165.15. 1,352,577 shares of the company were exchanged, compared to its average volume of 1,529,939. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market capitalization of $53.89 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The business's fifty day moving average is $158.06 and its 200 day moving average is $170.94.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company earned $3.56 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.09%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Simon Property Group Profile

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.