Zurcher Kantonalbank Zurich Cantonalbank Has $35.78 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 211,684 shares of the real estate investment trust’s stock after acquiring an additional 424 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Simon Property Group were worth $35,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SPG. Silvercrest Asset Management Group LLC bought a new position in Simon Property Group in the first quarter valued at approximately $208,000. Tidal Investments LLC raised its stake in shares of Simon Property Group by 19.5% during the first quarter. Tidal Investments LLC now owns 12,849 shares of the real estate investment trust’s stock valued at $2,006,000 after acquiring an additional 2,099 shares during the last quarter. Swedbank AB acquired a new position in Simon Property Group during the 1st quarter worth about $20,707,000. Atria Investments Inc lifted its stake in shares of Simon Property Group by 6.0% in the first quarter. Atria Investments Inc now owns 27,651 shares of the real estate investment trust’s stock worth $4,327,000 after acquiring an additional 1,554 shares during the period. Finally, Burney Co. bought a new stake in shares of Simon Property Group in the 1st quarter valued at $210,000. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank increased their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Truist Financial raised their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Price Performance

SPG opened at $183.75 on Friday. Simon Property Group, Inc. has a 1 year low of $120.50 and a 1 year high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market capitalization of $59.95 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 10.73 and a beta of 1.74. The firm’s fifty day moving average price is $173.96 and its two-hundred day moving average price is $161.04.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.20 earnings per share. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 109.19%.

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.