Commerzbank Aktiengesellschaft FI Purchases 9,899 Shares of Simon Property Group Inc (SPG)

Commerzbank Aktiengesellschaft FI Purchases 9,899 Shares of Simon Property Group Inc (SPG)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of Simon Property Group Inc (NYSE:SPG) by 211.3% during the first quarter, Holdings Channel reports. The institutional investor owned 14,584 shares of the real estate investment trust’s stock after buying an additional 9,899 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Simon Property Group were worth $2,509,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SPG. Dimensional Fund Advisors LP boosted its position in shares of Simon Property Group by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,170,977 shares of the real estate investment trust’s stock valued at $741,050,000 after buying an additional 102,676 shares in the last quarter. PGGM Investments boosted its position in shares of Simon Property Group by 31.8% in the first quarter. PGGM Investments now owns 3,473,850 shares of the real estate investment trust’s stock valued at $597,606,000 after buying an additional 839,043 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in shares of Simon Property Group by 28.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,264,105 shares of the real estate investment trust’s stock valued at $402,264,000 after buying an additional 495,300 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Simon Property Group by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,670,858 shares of the real estate investment trust’s stock valued at $296,861,000 after buying an additional 44,399 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Simon Property Group during the fourth quarter valued at about $280,251,000. 97.40% of the stock is currently owned by institutional investors.

Shares of Simon Property Group Inc (NYSE:SPG) traded down 0.54% during midday trading on Friday, reaching $164.52. 1,664,950 shares of the company were exchanged. The company has a market capitalization of $52.62 billion, a PE ratio of 28.12 and a beta of 0.60. Simon Property Group Inc has a 52-week low of $163.30 and a 52-week high of $229.10. The firm’s 50 day moving average is $169.63 and its 200-day moving average is $179.01.

Simon Property Group (NYSE:SPG) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Simon Property Group had a return on equity of 39.00% and a net margin of 35.11%. Simon Property Group’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.63 earnings per share. On average, equities analysts forecast that Simon Property Group Inc will post $6.40 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Monday, May 15th. Simon Property Group’s payout ratio is currently 119.25%.

SPG has been the topic of several recent research reports. SunTrust Banks, Inc. cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 19th. They noted that the move was a valuation call. Barclays PLC dropped their price objective on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. Jefferies Group LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Simon Property Group in a research note on Monday, April 17th. Canaccord Genuity dropped their price objective on shares of Simon Property Group from $250.00 to $224.00 and set a “buy” rating on the stock in a research note on Monday, March 27th. Finally, Vetr raised shares of Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective on the stock in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Simon Property Group has an average rating of “Buy” and a consensus target price of $215.63.

In other news, Director Reuben S. Leibowitz bought 1,400 shares of the stock in a transaction that occurred on Tuesday, March 28th. The shares were purchased at an average cost of $166.00 per share, with a total value of $232,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

About Simon Property Group

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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