Resona Asset Management Co. Ltd. Purchases New Position in Simon Property Group, Inc. (NYSE:SPG)

Resona Asset Management Co. Ltd. acquired a new position in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 176,052 shares of the real estate investment trust’s stock, valued at approximately $30,293,000. Resona Asset Management Co. Ltd. owned 0.05% of Simon Property Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC lifted its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group during the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group in the fourth quarter worth about $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $146.15 on Friday. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The company’s 50-day moving average is $174.03 and its 200 day moving average is $174.26.

Simon Property Group (NYSE:SPG) last posted its quarterly 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 net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.75%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPG. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $180.33.

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.