Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich increased its position in Simon Property Group, Inc. (NYSE:SPG) by 162.1% during the fourth quarter, Holdings Channel reports. The fund owned 18,143 shares of the real estate investment trust’s stock after purchasing an additional 11,221 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Simon Property Group were worth $3,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock worth $626,419,000 after acquiring an additional 64,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the period. Smead Capital Management Inc. increased its stake in Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after buying an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after buying an additional 25,519 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after buying an additional 98,366 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $170.97 on Monday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The company has a 50-day moving average of $178.03 and a two-hundred day moving average of $174.60. The stock has a market cap of $55.78 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its 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%. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SPG shares. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.44.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.