Deutsche Bank AG Acquires 624,000 Shares of Simon Property Group, Inc. (NYSE:SPG)

Deutsche Bank AG boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,590,867 shares of the real estate investment trust’s stock after purchasing an additional 624,000 shares during the period. Deutsche Bank AG owned about 1.10% of Simon Property Group worth $618,383,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC raised its stake in Simon Property Group by 137.1% during the fourth quarter. EP Wealth Advisors LLC now owns 4,388 shares of the real estate investment trust’s stock worth $756,000 after acquiring an additional 2,537 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 57 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Simon Property Group by 29.2% during the 4th quarter. CoreCap Advisors LLC now owns 906 shares of the real estate investment trust’s stock valued at $156,000 after purchasing an additional 205 shares during the last quarter. Crestline Management LP boosted its position in Simon Property Group by 1,622.3% in the fourth quarter. Crestline Management LP now owns 36,168 shares of the real estate investment trust’s stock valued at $6,228,000 after buying an additional 34,068 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its stake in Simon Property Group by 74.4% during the fourth quarter. BROOKFIELD Corp ON now owns 181,222 shares of the real estate investment trust’s stock worth $31,208,000 after buying an additional 77,304 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SPG shares. Stifel Nicolaus upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a research note on Wednesday, April 9th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Scotiabank lowered their target price on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.39.

Simon Property Group Price Performance

Shares of SPG stock opened at $161.54 on Thursday. The firm has a market cap of $52.71 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a 50-day moving average price of $159.71 and a 200 day moving average price of $171.33.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Profile

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.