CIBC Private Wealth Group LLC Buys 13,206 Shares of Simon Property Group, Inc. (NYSE:SPG)

CIBC Private Wealth Group LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 314.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,410 shares of the real estate investment trust’s stock after acquiring an additional 13,206 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Simon Property Group were worth $3,041,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. RWA Wealth Partners LLC bought a new stake in shares of Simon Property Group in the fourth quarter worth about $6,799,000. Schroder Investment Management Group increased its position in Simon Property Group by 2.5% in the fourth quarter. Schroder Investment Management Group now owns 1,022,772 shares of the real estate investment trust’s stock worth $176,132,000 after purchasing an additional 25,210 shares during the last quarter. L & S Advisors Inc raised its stake in Simon Property Group by 0.5% during the fourth quarter. L & S Advisors Inc now owns 40,133 shares of the real estate investment trust’s stock valued at $6,911,000 after purchasing an additional 184 shares in the last quarter. Allianz SE bought a new position in Simon Property Group during the fourth quarter valued at $9,092,000. Finally, Biondo Investment Advisors LLC grew its stake in shares of Simon Property Group by 0.9% in the 4th quarter. Biondo Investment Advisors LLC now owns 67,741 shares of the real estate investment trust’s stock worth $11,666,000 after buying an additional 600 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPG. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded 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. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $180.33.

Simon Property Group Trading Up 2.5 %

SPG stock opened at $170.58 on Thursday. 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 moving average is $175.03 and its 200 day moving average is $174.53. The company has a market capitalization of $55.66 billion, a PE ratio of 23.50, a P/E/G ratio of 10.10 and a beta of 1.45. 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 earnings results 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%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Simon Property Group Company 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.