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

CIBC Asset Management Inc increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,914 shares of the real estate investment trust’s stock after purchasing an additional 924 shares during the quarter. CIBC Asset Management Inc’s holdings in Simon Property Group were worth $3,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Morse Asset Management Inc raised its position in Simon Property Group by 74.6% during the third quarter. Morse Asset Management Inc now owns 5,570 shares of the real estate investment trust’s stock valued at $724,000 after acquiring an additional 2,380 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in Simon Property Group by 32.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 42,955 shares of the real estate investment trust’s stock valued at $5,583,000 after acquiring an additional 10,483 shares in the last quarter. Biondo Investment Advisors LLC raised its position in Simon Property Group by 2.3% during the third quarter. Biondo Investment Advisors LLC now owns 48,585 shares of the real estate investment trust’s stock valued at $6,315,000 after acquiring an additional 1,090 shares in the last quarter. Condor Capital Management raised its position in Simon Property Group by 0.6% during the third quarter. Condor Capital Management now owns 27,300 shares of the real estate investment trust’s stock valued at $3,548,000 after acquiring an additional 159 shares in the last quarter. Finally, Boston Private Wealth LLC raised its position in Simon Property Group by 34.7% during the third quarter. Boston Private Wealth LLC now owns 9,714 shares of the real estate investment trust’s stock valued at $1,262,000 after acquiring an additional 2,502 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

SPG has been the subject of several recent research reports. Compass Point lifted their price target on Simon Property Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 2nd. Citigroup boosted their price objective on Simon Property Group from $141.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, November 19th. Morgan Stanley boosted their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 10th. Bank of America boosted their price objective on Simon Property Group from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 25th. Finally, Argus boosted their price objective on Simon Property Group from $142.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, November 26th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $158.44.

Shares of NYSE:SPG opened at $155.70 on Friday. The business’s 50 day moving average price is $159.25 and its 200-day moving average price is $142.70. The firm has a market capitalization of $51.17 billion, a PE ratio of 25.24, a P/E/G ratio of 1.43 and a beta of 1.50. The company has a debt-to-equity ratio of 6.68, a current ratio of 1.04 and a quick ratio of 1.04. Simon Property Group, Inc. has a 1 year low of $90.56 and a 1 year high of $171.12.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.20 billion. Simon Property Group had a return on equity of 53.12% and a net margin of 41.00%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. As a group, analysts expect that Simon Property Group, Inc. will post 11.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Friday, December 10th were paid a dividend of $1.65 per share. The ex-dividend date of this dividend was Thursday, December 9th. This represents a $6.60 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.50. Simon Property Group’s payout ratio is 106.97%.

About Simon Property Group

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.

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

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