Mirae Asset Global Investments Co. Ltd. Buys 10,113 Shares of Simon Property Group, Inc. (NYSE:SPG)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 23.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 52,721 shares of the real estate investment trust's stock after acquiring an additional 10,113 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Simon Property Group were worth $9,047,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Childress Capital Advisors LLC increased its holdings in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust's stock valued at $273,000 after acquiring an additional 61 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust's stock valued at $696,000 after acquiring an additional 65 shares during the period. Carnegie Investment Counsel boosted its stake in Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust's stock worth $270,000 after acquiring an additional 65 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Simon Property Group by 2.8% during the fourth quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust's stock valued at $412,000 after purchasing an additional 66 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Simon Property Group stock traded up $0.30 during trading hours on Monday, reaching $180.24. 721,422 shares of the stock were exchanged, compared to its average volume of 1,270,838. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $186.00. The company has a market cap of $58.81 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. The stock has a 50 day moving average of $175.50 and a two-hundred day moving average of $170.58.

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

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.66%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

Several analysts recently commented on SPG shares. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho boosted 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $175.10.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company's stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company's stock.

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.