Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 57.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,776 shares of the real estate investment trust’s stock after selling 5,012 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Simon Property Group were worth $639,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group in the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Simon Property Group during the second quarter valued at approximately $27,000. Finally, RFP Financial Group LLC boosted its position in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Scotiabank raised their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Mizuho upped their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Truist Financial lifted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

SPG opened at $173.82 on Thursday. Simon Property Group, Inc. has a 52-week low of $104.05 and a 52-week high of $177.08. The company has a 50 day moving average of $167.07 and a two-hundred day moving average of $155.15. The company has a market cap of $56.67 billion, a P/E ratio of 22.09, a P/E/G ratio of 9.70 and a beta of 1.74. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company posted $2.88 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Insider Buying and Selling

In other news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction on Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate 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.