Simon Property Group, Inc. $SPG Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 24.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,932 shares of the real estate investment trust’s stock after purchasing an additional 11,156 shares during the period. Cetera Investment Advisers’ holdings in Simon Property Group were worth $9,152,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group during the 2nd quarter worth $25,000. Clearstead Trust LLC lifted its holdings in shares of Simon Property Group by 68.4% during the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 108 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at $47,000. TCTC Holdings LLC increased its stake in Simon Property Group by 93.5% in the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 186 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Simon Property Group during the 1st quarter worth about $81,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.8%

Shares of SPG stock opened at $183.29 on Friday. The stock’s 50 day simple moving average is $180.71 and its 200 day simple moving average is $171.25. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $59.84 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Analyst Ratings Changes

Several research firms have weighed in on SPG. Scotiabank lifted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Truist Financial lifted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Piper Sandler upped their price target on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Evercore ISI raised their price objective on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Finally, Barclays lifted their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $190.31.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the purchase, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $40,723.05. Following the transaction, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,121 shares of company stock worth $394,400 in the last 90 days. 8.66% of the stock is currently owned by insiders.

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.