Cidel Asset Management Inc. Has $216,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

Cidel Asset Management Inc. decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group in the fourth quarter worth approximately $41,000. Eastern Bank bought a new stake in Simon Property Group in the third quarter worth approximately $42,000. Golden State Wealth Management LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $45,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $52,000. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. 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 report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $175.10.

Simon Property Group Price Performance

SPG stock opened at $180.01 on Monday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The business has a 50-day simple moving average of $175.50 and a two-hundred day simple moving average of $170.44. The company has a market capitalization of $58.73 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $186.00.

Simon Property Group (NYSE:SPG) last announced its earnings results 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%. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Simon Property Group 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.