CIBC World Markets Inc. Sells 2,403 Shares of Simon Property Group, Inc. (SPG)

CIBC World Markets Inc. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,410 shares of the real estate investment trust’s stock after selling 2,403 shares during the period. CIBC World Markets Inc.’s holdings in Simon Property Group were worth $3,949,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norway Savings Bank boosted its stake in shares of Simon Property Group by 19.5% during the 2nd quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Simon Property Group by 27.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares during the last quarter. Israel Discount Bank of New York acquired a new position in shares of Simon Property Group during the 1st quarter worth about $146,000. Alpha Windward LLC boosted its stake in shares of Simon Property Group by 12.2% during the 2nd quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 93 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its stake in shares of Simon Property Group by 5.3% during the 1st quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 46 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

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A number of research firms have recently commented on SPG. Stifel Nicolaus set a $170.00 price objective on shares of Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, August 27th. Jefferies Group LLC restated a “buy” rating and set a $200.00 price objective (up from $198.00) on shares of Simon Property Group in a research note on Thursday, August 24th. Argus reduced their price objective on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. BidaskClub downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC increased their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $195.01.

Shares of Simon Property Group, Inc. (SPG) opened at 159.56 on Friday. The company has a market capitalization of $49.60 billion, a PE ratio of 28.44 and a beta of 0.58. The stock has a 50 day moving average of $159.58 and a 200-day moving average of $163.95. Simon Property Group, Inc. has a one year low of $150.15 and a one year high of $215.56.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned $2.63 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that Simon Property Group, Inc. will post $6.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a yield of 4.51%. Simon Property Group’s payout ratio is 127.89%.

Simon Property Group Company Profile

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

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