Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,485 Shares of Simon Property Group, Inc. (NYSE:SPG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 306,179 shares of the real estate investment trust’s stock after purchasing an additional 1,485 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Simon Property Group worth $43,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Arlington Trust Co LLC bought a new position in shares of Simon Property Group during the third quarter worth approximately $25,000. DT Investment Partners LLC increased its stake in Simon Property Group by 714.3% during the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 200 shares during the period. Selway Asset Management bought a new position in Simon Property Group during the 3rd quarter worth $26,000. Financial Freedom LLC bought a new position in Simon Property Group during the 4th quarter worth $27,000. Finally, Tyler Stone Wealth Management bought a new position in Simon Property Group during the 2nd quarter worth $27,000. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore ISI raised their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Piper Sandler raised their price objective on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. The Goldman Sachs Group raised their price objective on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Truist Financial raised their price objective on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Trading Down 1.4 %

Shares of SPG stock opened at $140.35 on Wednesday. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The company has a market cap of $45.74 billion, a PE ratio of 20.11, a P/E/G ratio of 7.47 and a beta of 1.65. The stock’s fifty day moving average price is $149.61 and its two-hundred day moving average price is $135.15.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $3.15 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a dividend of $1.95 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $7.80 annualized dividend and a dividend yield of 5.56%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Simon Property Group declared that its Board of Directors has approved a stock buyback program on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

About Simon Property Group

Simon is a real estate investment trust engaged 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.