Cetera Investment Advisers Cuts Stake in Simon Property Group, Inc. $SPG

Cetera Investment Advisers reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,728 shares of the real estate investment trust’s stock after selling 3,172 shares during the quarter. Cetera Investment Advisers’ holdings in Simon Property Group were worth $13,193,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Dynamic Wealth Strategies LLC boosted its position in shares of Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in Simon Property Group by 15,481.5% in the first quarter. Prestige Wealth Management Group LLC now owns 4,207 shares of the real estate investment trust’s stock valued at $785,000 after buying an additional 4,180 shares during the last quarter. Lasalle Investment Management Securities LLC raised its stake in Simon Property Group by 6.4% in the first quarter. Lasalle Investment Management Securities LLC now owns 567,093 shares of the real estate investment trust’s stock valued at $105,780,000 after buying an additional 34,090 shares during the last quarter. CacheTech Inc. boosted its holdings in Simon Property Group by 13.6% in the first quarter. CacheTech Inc. now owns 4,720 shares of the real estate investment trust’s stock worth $880,000 after acquiring an additional 565 shares in the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in Simon Property Group in the first quarter worth about $2,342,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG opened at $235.44 on Thursday. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day moving average of $217.90 and a two-hundred day moving average of $202.78. The stock has a market cap of $76.35 billion, a P/E ratio of 16.36, a P/E/G ratio of 3.06 and a beta of 1.29. Simon Property Group, Inc. has a one year low of $159.70 and a one year high of $238.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $2.25 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date was Tuesday, June 9th. This represents a $9.00 annualized dividend and a yield of 3.8%. Simon Property Group’s dividend payout ratio is currently 62.54%.

Insider Buying and Selling

In other Simon Property Group news, Director Daniel C. Smith acquired 372 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the purchase, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. The trade was a 1.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz acquired 508 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $223.38 per share, for a total transaction of $113,477.04. Following the completion of the acquisition, the director directly owned 55,797 shares in the company, valued at approximately $12,463,933.86. The trade was a 0.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,387 shares of company stock worth $533,056 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SPG. Jefferies Financial Group upgraded Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Barclays boosted their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley upped their price target on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $216.14.

Simon Property Group Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.