Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 697,717 shares of the real estate investment trust’s stock after acquiring an additional 46,786 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Simon Property Group worth $122,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group during the 3rd quarter worth approximately $834,000. First Hawaiian Bank raised its holdings in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 1,372 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Simon Property Group during the 4th quarter worth about $416,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SPG. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price 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 report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.33.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 1.5 %

SPG stock opened at $165.91 on Friday. The company has a market capitalization of $54.13 billion, a P/E ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The firm has a 50 day simple moving average of $175.62 and a 200-day simple moving average of $174.36. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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%. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Simon Property Group Profile

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.