Centerpoint Advisors LLC Has $51,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Centerpoint Advisors LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 130.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 327 shares of the real estate investment trust’s stock after purchasing an additional 185 shares during the quarter. Centerpoint Advisors LLC’s holdings in Simon Property Group were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SPG. Axxcess Wealth Management LLC bought a new position in Simon Property Group in the third quarter valued at approximately $335,000. Scotia Capital Inc. grew its stake in shares of Simon Property Group by 9.4% during the third quarter. Scotia Capital Inc. now owns 6,487 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 555 shares during the period. Royal London Asset Management Ltd. increased its holdings in Simon Property Group by 7.9% in the third quarter. Royal London Asset Management Ltd. now owns 188,707 shares of the real estate investment trust’s stock valued at $20,391,000 after purchasing an additional 13,868 shares during the last quarter. Royal Bank of Canada lifted its stake in Simon Property Group by 5.9% in the third quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock valued at $203,866,000 after buying an additional 105,606 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Simon Property Group during the third quarter worth about $1,494,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SPG shares. Scotiabank upped their price target on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Truist Financial increased their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

Simon Property Group Stock Up 0.5 %

NYSE SPG traded up $0.80 on Monday, reaching $146.89. The company had a trading volume of 784,337 shares, compared to its average volume of 1,488,721. The company’s fifty day moving average is $148.08 and its 200-day moving average is $146.86. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 8.69 and a beta of 1.75. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.74 earnings per share. On average, research analysts forecast that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $2.00 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, June 7th. This represents a $8.00 annualized dividend and a yield of 5.45%. Simon Property Group’s dividend payout ratio is presently 101.91%.

Simon Property Group Company Profile

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.