Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,046 shares of the real estate investment trust’s stock after purchasing an additional 270 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Simon Property Group were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SPG. Farther Finance Advisors LLC raised its position in Simon Property Group by 46.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 883 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Simon Property Group by 11.7% in the 3rd quarter. Van ECK Associates Corp now owns 153,314 shares of the real estate investment trust’s stock valued at $26,649,000 after acquiring an additional 16,032 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $74,000. National Pension Service increased its holdings in shares of Simon Property Group by 12.8% in the 3rd quarter. National Pension Service now owns 929,095 shares of the real estate investment trust’s stock valued at $157,036,000 after acquiring an additional 105,638 shares during the last quarter. Finally, Tobias Financial Advisors Inc. increased its holdings in shares of Simon Property Group by 2.7% in the 3rd quarter. Tobias Financial Advisors Inc. now owns 3,660 shares of the real estate investment trust’s stock valued at $619,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction 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 transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

Simon Property Group Trading Down 2.4 %

NYSE:SPG opened at $183.30 on Wednesday. The stock’s 50 day moving average price is $177.83 and its 200 day moving average price is $174.25. The company has a market capitalization of $59.81 billion, a PE ratio of 25.25, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.58%. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

A number of research firms have recently commented on SPG. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Finally, Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

About Simon Property Group

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.