CIBC Bancorp USA Inc. Makes New Investment in Simon Property Group, Inc. $SPG

CIBC Bancorp USA Inc. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 130,849 shares of the real estate investment trust’s stock, valued at approximately $24,556,000.

A number of other institutional investors have also made changes to their positions in SPG. Stance Capital LLC purchased a new position in shares of Simon Property Group in the third quarter valued at $26,000. Silicon Valley Capital Partners acquired a new stake in Simon Property Group during the 2nd quarter valued at $30,000. VSM Wealth Advisory LLC purchased a new stake in Simon Property Group during the 2nd quarter worth $30,000. Atlantic Union Bankshares Corp increased its stake in Simon Property Group by 143.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 123 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in Simon Property Group in the 3rd quarter worth $39,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, February 3rd. Barclays lifted their target price on Simon Property Group from $188.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. increased their price target on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Citigroup raised their price objective on Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Piper Sandler restated an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $199.36.

Insider Activity

In other news, Director Glyn Aeppel purchased 216 shares of the stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the acquisition, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. The trade was a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Reuben S. Leibowitz purchased 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the completion of the transaction, the director owned 53,639 shares in the company, valued at approximately $9,976,854. This represents a 0.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,192 shares of company stock valued at $407,712 over the last three months. Company insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $190.48 on Thursday. The firm has a market cap of $61.90 billion, a P/E ratio of 13.43, a P/E/G ratio of 6.28 and a beta of 1.36. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $205.12. The firm has a fifty day moving average of $192.60 and a two-hundred day moving average of $185.78.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $3.68 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s payout ratio is currently 62.06%.

Simon Property Group announced that its board has authorized a stock repurchase plan on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.