Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,547 shares of the real estate investment trust's stock after selling 26,559 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Simon Property Group worth $47,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC lifted its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $30,000. TCTC Holdings LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at $34,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter worth $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler upgraded 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 note on Wednesday, February 5th. 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 target on the stock. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Six equities research 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 an average target price of $180.33.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $1.64 during mid-day trading on Friday, hitting $164.21. 1,309,293 shares of the company were exchanged, compared to its average volume of 1,438,811. The stock has a 50 day simple moving average of $175.42 and a 200-day simple moving average of $174.45. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market cap of $53.58 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

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.