Cladis Investment Advisory LLC Invests $242,000 in Simon Property Group, Inc. (NYSE:SPG)

Cladis Investment Advisory LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,700 shares of the real estate investment trust’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prudential PLC lifted its holdings in Simon Property Group by 21.4% during the 4th quarter. Prudential PLC now owns 16,321 shares of the real estate investment trust’s stock worth $2,328,000 after buying an additional 2,875 shares during the last quarter. Morningstar Investment Services LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $358,000. American International Group Inc. increased its position in Simon Property Group by 0.5% in the 4th quarter. American International Group Inc. now owns 87,594 shares of the real estate investment trust’s stock valued at $12,494,000 after acquiring an additional 405 shares during the period. Cibc World Markets Corp increased its position in Simon Property Group by 962.6% during the 4th quarter. Cibc World Markets Corp now owns 191,890 shares of the real estate investment trust’s stock worth $27,371,000 after purchasing an additional 173,831 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its position in Simon Property Group by 66.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 48,911 shares of the real estate investment trust’s stock worth $6,977,000 after purchasing an additional 19,450 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 0.0 %

Shares of SPG stock traded up $0.01 on Friday, reaching $151.79. 1,776,392 shares of the stock were exchanged, compared to its average volume of 1,248,007. The stock has a market cap of $49.47 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 9.14 and a beta of 1.71. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The firm has a 50 day moving average of $146.73 and a two-hundred day moving average of $144.27. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82.

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

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $2.00 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Friday, June 7th. Simon Property Group’s dividend payout ratio is presently 99.36%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Scotiabank boosted their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Truist Financial boosted their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, Evercore ISI boosted their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.33.

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.