Cerity Partners LLC Has $8.01 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Cerity Partners LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 45.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,364 shares of the real estate investment trust’s stock after acquiring an additional 14,893 shares during the quarter. Cerity Partners LLC’s holdings in Simon Property Group were worth $8,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Simon Property Group during the 2nd quarter valued at $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group in the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the 2nd quarter valued at about $27,000. RFP Financial Group LLC boosted its stake in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Simon Property Group during the 1st quarter worth approximately $29,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.75 on Thursday. The company has a market capitalization of $59.95 billion, a P/E ratio of 24.47, a P/E/G ratio of 10.51 and a beta of 1.74. The business has a fifty day simple moving average of $173.63 and a two-hundred day simple moving average of $160.88. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $120.50 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $3.20 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SPG shares. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Mizuho lifted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $162.78.

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.