Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,443 shares of the real estate investment trust’s stock after purchasing an additional 9,104 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Simon Property Group were worth $18,158,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SPG. Renaissance Technologies LLC acquired a new stake in 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 lifted its position 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 acquiring an additional 1,678 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $180.01 on Friday. The business has a fifty day moving average of $175.65 and a two-hundred day moving average of $170.12. 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 stock has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $186.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.72 earnings per share 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. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. Simon Property Group’s payout ratio is presently 111.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPG shares. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $205.00 in a research report on Wednesday. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated 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. 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. Finally, 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $175.10.

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.