CIBC Private Wealth Group LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

CIBC Private Wealth Group LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 314.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,410 shares of the real estate investment trust’s stock after purchasing an additional 13,206 shares during the period. CIBC Private Wealth Group LLC’s holdings in Simon Property Group were worth $3,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Simon Property Group during the fourth quarter worth about $2,059,505,000. JPMorgan Chase & Co. grew its stake in shares of Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after purchasing an additional 246,630 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after purchasing an additional 64,418 shares in the last quarter. Boston Partners increased its holdings in shares of Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust’s stock valued at $431,304,000 after purchasing an additional 162,764 shares in the last quarter. Finally, Amundi lifted its stake in shares of Simon Property Group by 10.5% in the 4th quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock valued at $301,088,000 after purchasing an additional 163,764 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $170.58 on Thursday. The firm has a 50-day simple moving average of $175.03 and a 200-day simple moving average of $174.53. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. 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 released its earnings results 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 net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business 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 yield of 4.92%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPG. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Jefferies Financial Group raised shares of 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. Finally, Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $180.33.

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.