Cetera Trust Company N.A Has $323,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Cetera Trust Company N.A decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,875 shares of the real estate investment trust’s stock after selling 175 shares during the quarter. Cetera Trust Company N.A’s holdings in Simon Property Group were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group in the third quarter valued at about $42,000. Eastern Bank acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Simon Property Group by 107.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $174.56 on Wednesday. The stock’s 50-day moving average is $177.00 and its 200-day moving average is $168.36. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market cap of $56.95 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 9.33 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.20 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.81%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPG. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $172.10.

About Simon Property Group

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.