Cibc World Markets Corp Boosts Position in Simon Property Group, Inc. (NYSE:SPG)

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

A number of other large investors also recently modified their holdings of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Hamlin Capital Management LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $109,403,000. KBC Group NV increased its holdings in shares of Simon Property Group by 170.3% in the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares during the period. Proficio Capital Partners LLC raised its position in shares of Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after buying an additional 539,893 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Simon Property Group by 295.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after buying an additional 489,519 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

Simon Property Group stock opened at $166.89 on Tuesday. The firm has a fifty day simple moving average of $176.89 and a two-hundred day simple moving average of $174.49. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The company has a market capitalization of $54.45 billion, a PE ratio of 22.99, a P/E/G 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 posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.03%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

Several research firms have weighed in on SPG. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.