CIBC Private Wealth Group LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

CIBC Private Wealth Group LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPGFree Report) by 16.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,017 shares of the real estate investment trust’s stock after buying an additional 696 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Simon Property Group were worth $716,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Simon Property Group in the fourth quarter worth $2,561,181,000. International Assets Investment Management LLC lifted its position in shares of Simon Property Group by 13,226.4% in the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after purchasing an additional 913,678 shares during the period. Panagora Asset Management Inc. increased its position in shares of Simon Property Group by 11,722.9% during the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after buying an additional 667,034 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after buying an additional 469,855 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Simon Property Group by 65.3% in the third quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock worth $92,278,000 after buying an additional 337,430 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPG. Scotiabank increased their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Truist Financial raised their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley lifted their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Evercore ISI upped their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

View Our Latest Stock Report on SPG

Simon Property Group Trading Up 0.2 %

NYSE:SPG opened at $152.04 on Tuesday. The stock has a market cap of $49.56 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 9.03 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 company’s 50 day moving average price is $146.71 and its 200-day moving average price is $144.81. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last released its quarterly earnings data 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). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $2.74 earnings per share. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is presently 101.91%.

About Simon Property Group

(Free Report)

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.

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

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