Simon Property Group, Inc. (NYSE:SPG) Holdings Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,684 shares of the real estate investment trust’s stock after acquiring an additional 424 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Simon Property Group worth $35,779,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SPG. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the second quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group in the second quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth $30,000. Pathway Financial Advisers LLC purchased a new stake in Simon Property Group during the first quarter valued at about $29,000. Finally, RFP Financial Group LLC boosted its stake in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.2 %

NYSE:SPG opened at $183.75 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The business’s 50-day simple moving average is $173.96 and its 200-day simple moving average is $161.04. Simon Property Group, Inc. has a fifty-two week low of $120.50 and a fifty-two week high of $186.00. The stock has a market capitalization of $59.95 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.20 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho increased their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $162.78.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by insiders.

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.