Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697,717 shares of the real estate investment trust's stock after purchasing an additional 46,786 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of Simon Property Group worth $122,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the fourth quarter worth approximately $28,000. WR Wealth Planners LLC lifted its position in 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 valued at $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in Simon Property Group during the 4th quarter valued at $30,000. TCTC Holdings LLC purchased a new stake in Simon Property Group during the 4th quarter valued at $34,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the 4th quarter worth $41,000. Institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SPG shares. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Mizuho upped 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $180.33.

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Simon Property Group Stock Up 0.9 %

Shares of SPG stock traded up $1.49 during trading hours on Monday, reaching $165.77. 798,452 shares of the company's stock were exchanged, compared to its average volume of 1,436,422. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The stock's 50 day moving average is $175.42 and its 200-day moving average is $174.53. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $54.09 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last issued 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 net margin of 41.49% and a return on equity of 74.02%. Analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.

Simon Property Group 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.