Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 291,463 shares of the real estate investment trust’s stock after buying an additional 79,779 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Simon Property Group were worth $50,193,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPG. WR Wealth Planners LLC raised its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $41,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $41,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on SPG shares. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $165.32 on Tuesday. The stock has a market capitalization of $53.94 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The firm’s 50 day simple moving average is $177.92 and its 200-day simple moving average is $174.62. 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 (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.08%. 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.