CIBC Asset Management Inc Acquires 2,092 Shares of Simon Property Group, Inc. (NYSE:SPG)

CIBC Asset Management Inc raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 47,400 shares of the real estate investment trust’s stock after purchasing an additional 2,092 shares during the quarter. CIBC Asset Management Inc’s holdings in Simon Property Group were worth $8,163,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in Simon Property Group during the third quarter valued at approximately $834,000. First Hawaiian Bank raised its stake in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC lifted its holdings in shares of Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 10,644 shares during the period. Versant Capital Management Inc boosted its stake in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after acquiring an additional 3,990 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Finally, Mizuho upped 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $175.10.

Simon Property Group Stock Down 0.1 %

Shares of SPG stock opened at $185.88 on Thursday. 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, Inc. has a one year low of $139.25 and a one year high of $188.13. The company’s fifty day moving average price is $176.10 and its 200-day moving average price is $172.25. The company has a market capitalization of $60.65 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. Sell-side analysts expect 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. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

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.