Cambridge Investment Research Advisors Inc. Has $4.60 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Cambridge Investment Research Advisors Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,690 shares of the real estate investment trust’s stock after selling 686 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Simon Property Group were worth $4,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 789 shares during the last quarter. Brighton Jones LLC bought a new stake in Simon Property Group in the 4th quarter valued at $295,000. PNC Financial Services Group Inc. increased its position in Simon Property Group by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock worth $62,322,000 after buying an additional 25,987 shares during the period. USA Financial Formulas bought a new position in Simon Property Group during the 1st quarter worth $717,000. Finally, Independent Advisor Alliance increased its position in shares of Simon Property Group by 4.0% in the fourth quarter. Independent Advisor Alliance now owns 69,454 shares of the real estate investment trust’s stock worth $11,961,000 after purchasing an additional 2,661 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Down 0.1%

Shares of SPG stock opened at $160.42 on Friday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The stock’s 50-day moving average price is $159.68 and its 200-day moving average price is $166.90. The stock has a market capitalization of $52.36 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 8.96 and a beta of 1.47.

Simon Property Group (NYSE:SPGGet Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. Simon Property Group’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.56 earnings per share. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.24%. Simon Property Group’s dividend payout ratio is presently 133.76%.

Analyst Ratings Changes

Several research firms recently weighed in on SPG. JPMorgan Chase & Co. reduced their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Piper Sandler lowered their target price on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Mizuho decreased their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a report on Tuesday, June 10th. Wall Street Zen cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Scotiabank upped their price target on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $179.44.

View Our Latest Analysis on SPG

About Simon Property Group

(Free Report)

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.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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