Simon Property Group, Inc. (NYSE:SPG) is Cbre Investment Management Listed Real Assets LLC’s 3rd Largest Position

Cbre Investment Management Listed Real Assets LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,584,116 shares of the real estate investment trust’s stock after selling 100,943 shares during the period. Simon Property Group accounts for 4.8% of Cbre Investment Management Listed Real Assets LLC’s holdings, making the stock its 3rd biggest position. Cbre Investment Management Listed Real Assets LLC owned 0.49% of Simon Property Group worth $272,801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WR Wealth Planners LLC raised its holdings in shares of 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 worth $29,000 after buying an additional 128 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group in the third quarter worth $30,000. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 2.4 %

Shares of NYSE SPG opened at $183.30 on Wednesday. The company’s 50-day simple moving average is $177.83 and its 200-day simple moving average is $174.25. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The firm has a market cap of $59.81 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth 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 (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.58%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 8.50% of the company’s stock.

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.