CIBC Asset Management Inc Has $17.08 Million Holdings in Simon Property Group Inc (SPG)

CIBC Asset Management Inc trimmed its position in Simon Property Group Inc (NYSE:SPG) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 96,636 shares of the real estate investment trust’s stock after selling 3,472 shares during the quarter. CIBC Asset Management Inc’s holdings in Simon Property Group were worth $17,080,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kaizen Advisory LLC lifted its holdings in shares of Simon Property Group by 138.1% during the 2nd quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 413 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of Simon Property Group during the 3rd quarter worth $156,000. Peapack Gladstone Financial Corp bought a new stake in shares of Simon Property Group during the 2nd quarter worth $203,000. Cumberland Partners Ltd bought a new stake in shares of Simon Property Group during the 2nd quarter worth $204,000. Finally, Murphy Capital Management Inc. bought a new stake in shares of Simon Property Group during the 2nd quarter worth $205,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group stock opened at $183.15 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 6.14. The firm has a market capitalization of $57.79 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $188.21.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.07. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. On average, equities analysts anticipate that Simon Property Group Inc will post 12.12 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, November 15th. Simon Property Group’s dividend payout ratio is presently 71.36%.

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Simon Property Group from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Jefferies Financial Group reaffirmed a “$170.72” rating and set a $194.00 price objective on shares of Simon Property Group in a report on Wednesday, July 18th. Zacks Investment Research downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Bank of America lifted their price objective on shares of Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Finally, JPMorgan Chase & Co. raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $195.42.

In other Simon Property Group news, insider John Rulli sold 6,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total value of $1,119,120.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.64% of the company’s stock.

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Simon Property Group Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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

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