Nomura Asset Management Co. Ltd. Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Nomura Asset Management Co. Ltd. grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,408 shares of the real estate investment trust's stock after acquiring an additional 18,326 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.15% of Simon Property Group worth $87,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Simon Property Group during the fourth quarter valued at approximately $2,059,505,000. JPMorgan Chase & Co. raised its holdings in Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after acquiring an additional 246,630 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Simon Property Group by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock valued at $626,419,000 after acquiring an additional 64,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock worth $539,393,000 after acquiring an additional 2,746,503 shares during the period. Finally, Boston Partners raised its stake in Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust's stock valued at $431,304,000 after purchasing an additional 162,764 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPG. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $180.33.

Simon Property Group Trading Up 1.2 %

Shares of Simon Property Group stock traded up $1.94 on Monday, reaching $166.22. The company had a trading volume of 1,069,507 shares, compared to its average volume of 1,438,274. The firm's 50-day moving average price is $175.42 and its two-hundred day moving average price is $174.53. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The firm has a market cap of $54.23 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 10.10 and a beta of 1.78. 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 (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, research 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 firm also recently announced 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 5.05%. Simon Property Group's dividend payout ratio (DPR) is 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.