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

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,443 shares of the real estate investment trust's stock after buying an additional 9,104 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Simon Property Group were worth $18,158,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SPG. Renaissance Technologies LLC acquired a new position in shares of Simon Property Group during the second quarter worth $364,000. Czech National Bank lifted its holdings in Simon Property Group by 0.5% in the 3rd quarter. Czech National Bank now owns 62,431 shares of the real estate investment trust's stock worth $10,552,000 after buying an additional 321 shares in the last quarter. Mather Group LLC. boosted its position in Simon Property Group by 14.1% in the 3rd quarter. Mather Group LLC. now owns 3,460 shares of the real estate investment trust's stock valued at $585,000 after buying an additional 428 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Simon Property Group by 15.1% in the 3rd quarter. Atomi Financial Group Inc. now owns 5,729 shares of the real estate investment trust's stock valued at $968,000 after buying an additional 752 shares during the last quarter. Finally, Brookstone Capital Management grew its stake in shares of Simon Property Group by 8.6% during 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired 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 directly owns 55,919 shares of the company's stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPG. 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 on the stock. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $175.10.

Simon Property Group Stock Performance

SPG traded up $3.81 on Tuesday, hitting $184.37. 2,155,814 shares of the company's stock were exchanged, compared to its average volume of 1,335,000. 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 stock has a fifty day moving average of $175.48 and a two-hundred day moving average of $170.80. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $186.00. The firm has a market cap of $60.16 billion, a PE ratio of 25.40, a P/E/G ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its 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%. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.56%. Simon Property Group's dividend payout ratio is presently 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.