Zurcher Kantonalbank Zurich Cantonalbank Has $50.19 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 37.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,463 shares of the real estate investment trust's stock after acquiring an additional 79,779 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Simon Property Group worth $50,193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC increased its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the third quarter valued at approximately $30,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company's stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

SPG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Mizuho increased their price objective 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. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $180.33.

Simon Property Group Stock Up 1.6 %

Shares of Simon Property Group stock traded up $2.55 on Wednesday, hitting $166.03. The company had a trading volume of 741,631 shares, compared to its average volume of 1,336,779. The firm has a market capitalization of $54.17 billion, a P/E ratio of 22.87, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a 50-day moving average of $177.75 and a 200-day moving average of $174.60.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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 predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.

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.