Cerity Partners LLC Has $1.70 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Cerity Partners LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 66.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,939 shares of the real estate investment trust’s stock after purchasing an additional 4,750 shares during the period. Cerity Partners LLC’s holdings in Simon Property Group were worth $1,703,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cascade Investment Group Inc. lifted its position in Simon Property Group by 0.5% during the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after buying an additional 80 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in Simon Property Group by 16.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 80 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in Simon Property Group by 2.4% during the 4th quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock worth $485,000 after buying an additional 81 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Simon Property Group by 1.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 85 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Simon Property Group by 0.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 9,600 shares of the real estate investment trust’s stock worth $1,369,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $140.44 on Friday. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $45.77 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65. The stock has a 50-day moving average of $149.36 and a 200-day moving average of $135.48. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $3.15 earnings per share. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $1.95 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.55%. Simon Property Group’s dividend payout ratio is 111.75%.

Simon Property Group announced that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Evercore ISI upped 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 report on Wednesday, February 28th. Morgan Stanley upped 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 report on Monday, February 26th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Truist Financial boosted their price objective on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.22.

About Simon Property Group

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.