Cidel Asset Management Inc. Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Cidel Asset Management Inc. lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,255 shares of the real estate investment trust’s stock after selling 84 shares during the period. Cidel Asset Management Inc.’s holdings in Simon Property Group were worth $216,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SPG. CWM LLC increased its stake in shares of Simon Property Group by 3.3% during the 3rd quarter. CWM LLC now owns 9,382 shares of the real estate investment trust’s stock worth $1,586,000 after purchasing an additional 302 shares during the last quarter. UMB Bank n.a. increased its position in Simon Property Group by 7.1% in the third quarter. UMB Bank n.a. now owns 2,325 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 154 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Simon Property Group by 433.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,954 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 2,400 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Simon Property Group by 1.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 9,444 shares of the real estate investment trust’s stock valued at $1,596,000 after buying an additional 130 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Simon Property Group by 12.9% during the 3rd quarter. Ritholtz Wealth Management now owns 9,851 shares of the real estate investment trust’s stock valued at $1,665,000 after buying an additional 1,128 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.1 %

Shares of NYSE:SPG opened at $180.01 on Monday. The company has a market cap of $58.73 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $186.00. The firm has a fifty day moving average price of $175.50 and a two-hundred day moving average price of $170.44. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company 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 report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, Mizuho boosted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $175.10.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.50% of the stock is currently owned by insiders.

Simon Property Group Company Profile

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.