Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Lifted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 587,933 shares of the real estate investment trust’s stock after buying an additional 3,990 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Simon Property Group were worth $101,130,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter worth about $41,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $41,000. Eastern Bank purchased a new stake in Simon Property Group during the third quarter valued at about $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $45,000. 93.01% of the stock is owned by institutional investors.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Finally, Mizuho upped their price target 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. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $175.10.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $186.24 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $187.10. The business’s 50-day moving average price is $175.60 and its two-hundred day moving average price is $171.12. The company has a market capitalization of $60.76 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results 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 return on equity of 74.02% and a net margin of 41.49%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm 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 dividend of $2.10 per share. 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 4.51%. Simon Property Group’s dividend payout ratio is currently 115.70%.

About Simon Property Group

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.