Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 273,547 shares of the real estate investment trust’s stock after selling 26,559 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Simon Property Group were worth $47,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Hamlin Capital Management LLC bought a new position in Simon Property Group in the fourth quarter valued at $109,403,000. KBC Group NV lifted its position in Simon Property Group by 170.3% in the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after buying an additional 554,605 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Simon Property Group by 22,608.6% in the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock valued at $93,386,000 after purchasing an additional 539,893 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Simon Property Group by 295.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after buying an additional 489,519 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on SPG shares. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $165.91 on Wednesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock’s fifty day moving average is $175.83 and its 200 day moving average is $174.46. The stock has a market cap of $54.13 billion, a P/E ratio of 22.85, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was 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 this hyperlink. Corporate insiders own 8.50% of the company’s stock.

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.