Cibc World Markets Corp Buys 14,728 Shares of Simon Property Group, Inc. (NYSE:SPG)

Cibc World Markets Corp boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,486 shares of the real estate investment trust’s stock after purchasing an additional 14,728 shares during the quarter. Cibc World Markets Corp’s holdings in Simon Property Group were worth $23,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hopwood Financial Services Inc. bought a new stake in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC grew its stake in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth approximately $41,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $180.33.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 3.5 %

Shares of SPG stock opened at $166.89 on Tuesday. 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 firm has a market cap of $54.45 billion, a P/E ratio of 22.99, a PEG ratio of 10.10 and a beta of 1.78. The company has a 50 day moving average of $176.89 and a 200-day moving average of $174.49. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month 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 (EPS) 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.03%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Simon Property Group 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.