Commerzbank Aktiengesellschaft FI Boosts Holdings in Simon Property Group Inc (SPG)

Commerzbank Aktiengesellschaft FI raised its stake in Simon Property Group Inc (NYSE:SPG) by 36.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,168 shares of the real estate investment trust’s stock after buying an additional 3,263 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Simon Property Group were worth $1,959,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPG. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 169 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Simon Property Group by 0.7% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 7 shares in the last quarter. Highstreet Asset Management Inc. bought a new position in shares of Simon Property Group in the second quarter valued at $157,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Simon Property Group in the second quarter valued at $162,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Simon Property Group by 791.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 4,843 shares in the last quarter. 47.60% of the stock is currently owned by institutional investors.

Shares of Simon Property Group Inc (NYSE SPG) traded down $0.92 during trading hours on Wednesday, reaching $162.75. 2,010,500 shares of the company’s stock traded hands, compared to its average volume of 1,826,829. Simon Property Group Inc has a 52 week low of $150.15 and a 52 week high of $188.10. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $104,711.16, a P/E ratio of 14.87, a P/E/G ratio of 2.21 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the business posted $2.70 earnings per share. Simon Property Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts expect that Simon Property Group Inc will post 11.2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a $1.85 dividend. The ex-dividend date was Wednesday, November 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.55%. Simon Property Group’s dividend payout ratio is 130.51%.

SPG has been the topic of several research reports. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a report on Wednesday, October 11th. Mizuho set a $183.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Sunday, October 29th. BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a research note on Friday, October 27th. Jefferies Group reissued a “buy” rating and set a $200.00 target price (up from $198.00) on shares of Simon Property Group in a research note on Thursday, August 24th. Finally, Argus cut their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $191.11.

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Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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

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