Asset Management One Co. Ltd. Cuts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Asset Management One Co. Ltd. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,943 shares of the real estate investment trust’s stock after selling 25,411 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Simon Property Group were worth $98,698,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after acquiring an additional 672,941 shares during the period. Boston Partners increased its holdings in shares of Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after purchasing an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in shares of Simon Property Group by 4.5% in the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after purchasing an additional 78,866 shares during the period. PGGM Investments boosted its holdings in Simon Property Group by 1.9% during the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after buying an additional 23,186 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Simon Property Group by 6.7% during the second quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock worth $162,689,000 after buying an additional 67,513 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 0.7 %

Shares of SPG stock opened at $168.95 on Monday. Simon Property Group, Inc. has a twelve month low of $113.40 and a twelve month high of $177.08. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 9.61 and a beta of 1.74. The firm has a 50-day moving average price of $168.55 and a 200 day moving average price of $156.50. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $2.88 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.97%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 104.19%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research reports. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Scotiabank upped their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Finally, Mizuho increased their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group Company 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.