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

Cetera Trust Company N.A reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,875 shares of the real estate investment trust’s stock after selling 175 shares during the period. 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 have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the third quarter worth $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter worth about $42,000. Eastern Bank purchased a new stake in shares of Simon Property Group in the third quarter worth approximately $42,000. Ashton Thomas Securities LLC purchased a new stake in shares of Simon Property Group in the third quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SPG shares. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Finally, Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $172.10.

Simon Property Group Stock Up 0.2 %

SPG stock opened at $174.56 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $56.95 billion, a PE ratio of 23.22, a PEG ratio of 9.33 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The stock has a 50-day simple moving average of $177.00 and a two-hundred day simple moving average of $168.36.

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

Simon Property Group Increases Dividend

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

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now 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 through this link. Corporate insiders own 8.60% of the company’s stock.

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.