Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Mirae Asset Global Investments Co. Ltd. grew its position in Simon Property Group, Inc. (NYSE:SPG) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,721 shares of the real estate investment trust’s stock after acquiring an additional 10,113 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Simon Property Group were worth $9,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPG. Renaissance Technologies LLC purchased a new position in shares of Simon Property Group in the second quarter valued at approximately $364,000. Czech National Bank lifted its position in shares of Simon Property Group by 0.5% in the third quarter. Czech National Bank now owns 62,431 shares of the real estate investment trust’s stock valued at $10,552,000 after acquiring an additional 321 shares in the last quarter. Mather Group LLC. lifted its position in shares of Simon Property Group by 14.1% in the third quarter. Mather Group LLC. now owns 3,460 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 428 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Simon Property Group by 15.1% in the third quarter. Atomi Financial Group Inc. now owns 5,729 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 752 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Simon Property Group by 8.6% in the third quarter. Brookstone Capital Management now owns 21,170 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 1,678 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE:SPG opened at $180.01 on Friday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $58.73 billion, a P/E ratio of 23.97, a P/E/G ratio of 9.31 and a beta of 1.74. The stock’s fifty day moving average is $175.65 and its two-hundred day moving average is $170.12.

Simon Property Group (NYSE:SPG) last posted its 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 76.21% and a net margin of 43.36%. Equities analysts expect that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $175.10.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

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.