National Bank of Canada FI Sells 696 Shares of Simon Property Group, Inc. (NYSE:SPG)

National Bank of Canada FI reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 172,551 shares of the real estate investment trust’s stock after selling 696 shares during the period. National Bank of Canada FI owned about 0.05% of Simon Property Group worth $29,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Norges Bank bought a new position in shares of Simon Property Group in the fourth quarter valued at approximately $2,059,505,000. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after purchasing an additional 246,630 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Simon Property Group by 1.8% during the fourth 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 purchasing an additional 64,418 shares during the last quarter. Boston Partners increased its stake in shares of Simon Property Group by 7.0% in the fourth quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust’s stock valued at $431,304,000 after buying an additional 162,764 shares in the last quarter. Finally, Amundi increased its stake in shares of Simon Property Group by 10.5% in the fourth quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock valued at $301,088,000 after buying an additional 163,764 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Stock Up 2.5 %

Shares of Simon Property Group stock opened at $170.58 on Thursday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The business has a fifty day simple moving average of $175.03 and a 200 day simple moving average of $174.53. 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 market cap of $55.66 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.92%. 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.