Deutsche Bank AG raised its stake during the last quarter to now own over three million shares valued at approximately $366 million. has also made moves in their stake with Simon Property Group by boosting its position by 5.6% in the third quarter to now own over 35 million shares worth roughly $3 billion. Similarly, Norges Bank entered the scene in the fourth quarter of the previous year with a new stake worth approximately $807,887,000.īlackRock Inc. In the first quarter of 2023, Cowa LLC entered into a new position in shares of Simon Property Group worth about $107,000. Simon Property Group, a leading real estate investment trust (REIT), has seen transactions from various institutional investors and hedge funds in recent quarters. Simon Property Group: Recent Transactions and Dividend Boost Show more Simon Property Group: Recent Transactions and Dividend Boost Signals Stability and Growth Nevertheless, as Transcend Capital Advisors LLC shows confidence in SPG’s stocks, others are cautiously optimistic about the company’s future prospects in a volatile market environment fraught with constant uncertainty and fluctuation. Investors are keenly observing market trends as Simon Property Group’s performance will be a deciding factor on numerous portfolios’ profitability within the REIT sector. Nonetheless, its robust price-to-earnings growth ratio of 2.74 and beta of 1.51 indicates further room for growth. Simon Property Group has a current ratio and quick ratio of 1.43, respectively with a debt-to-equity ratio of 7.50 that suggests risks in its finances, which plays out in its low P/E ratios at 16.53. The company has been experiencing instability as its one-year low stands at ‘$86.02′, whereas it achieved its successful peak in the last twelve months at $133.08.The company’s fifty-day moving average is set at $108.24 per share meanwhile, the two-hundred-day moving average is set slightly higher at$114.75/share. SPG stocks opened at $109.09 on June 23rd, 2023. Nonetheless, The Goldman Sachs Group started coverage on Simon Property Group’s shares in March 2023 and gave them a “buy” rating with a target price of $150 per share, generating optimism among investors.įurthermore, released its analysis stating that although six analysts have given a “hold” rating for Simon Property Group’s stock while five have rated it as “buy,” but overall consensus lies at “hold.” Hence ’s data indicates the average target price for SPG’s stock is around $125 per share. Similarly, Mizuho downgraded their target price for SPG stock from $116 to $106 per share. In May, Stifel Nicolaus reduced their target price on SPG shares from $135 to $129.50 per share. However, several equity analysts have proposed varying views about the future prospects of Simon Property Group’s stock. The move by Transcend Capital Advisors LLC indicates quantum confidence in Simon Property Group’s stock and its potential for robust growth. According to a Form 13F filing with the Securities and Exchange Commission (SEC), Transcend Capital Advisors LLC purchased 9,315 shares of SPG stock in the first quarter of this year, which are valued at approximately $1.04 million. Transcend Capital Advisors LLC, a New York-based investment management firm, recently acquired an additional stake in Simon Property Group Inc., a real estate investment trust (REIT) listed on the NYSE.
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