Simon Property Group, Inc. (NYSE:SPG) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 29,914 shares of the real estate investment trust’s stock after purchasing an additional 924 shares during the period. CIBC Asset Management Inc’s holdings in Simon Property Group were worth $3,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Simon Property Group by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 47,181,855 shares of the real estate investment trust’s stock worth $6,156,288,000 after acquiring an additional 567,034 shares during the period. State Street Corp raised its stake in shares of Simon Property Group by 1.4% during the 2nd quarter. State Street Corp now owns 19,443,377 shares of the real estate investment trust’s stock worth $2,536,972,000 after buying an additional 260,822 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Simon Property Group by 4.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,104,445 shares of the real estate investment trust’s stock worth $926,988,000 after buying an additional 309,295 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Simon Property Group by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,588,639 shares of the real estate investment trust’s stock worth $858,577,000 after buying an additional 216,294 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Simon Property Group by 5.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,526,017 shares of the real estate investment trust’s stock worth $588,247,000 after buying an additional 250,209 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on SPG. Mizuho increased their target price on Simon Property Group from $133.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 2nd. TheStreet raised Simon Property Group from a “c+” rating to a “b” rating in a research note on Thursday, September 30th. Zacks Investment Research downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $141.00 price objective for the company. in a research note on Monday, October 4th. Evercore ISI raised their price objective on Simon Property Group from $164.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, November 2nd. Finally, Truist raised their price objective on Simon Property Group from $136.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, December 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Simon Property Group presently has a consensus rating of “Buy” and a consensus price target of $158.44.

SPG stock opened at $155.70 on Friday. Simon Property Group, Inc. has a 52-week low of $90.56 and a 52-week high of $171.12. The stock’s fifty day simple moving average is $159.25 and its 200-day simple moving average is $142.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 6.68. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.43 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its earnings results on Sunday, October 31st. The real estate investment trust reported $1.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.47 by ($0.70). Simon Property Group had a net margin of 41.00% and a return on equity of 53.12%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted $2.05 EPS. Simon Property Group’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that Simon Property Group, Inc. will post 11.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Friday, December 10th were issued a $1.65 dividend. The ex-dividend date was Thursday, December 9th. This represents a $6.60 dividend on an annualized basis and a yield of 4.24%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.50. Simon Property Group’s dividend payout ratio (DPR) is presently 106.97%.

Simon Property Group Company Profile

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

Recommended Story: What is a blue-chip stock?

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.