Sompo Asset Management Co. Ltd. Invests $501,000 in Simon Property Group, Inc. (NYSE:SPG)

Sompo Asset Management Co. Ltd. purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,910 shares of the real estate investment trust's stock, valued at approximately $501,000.

Several other institutional investors and hedge funds have also modified their holdings of SPG. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank increased its position in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its stake in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after purchasing an additional 421 shares during the period. Asset Management One Co. Ltd. raised its stake in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $416,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SPG shares. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank reduced their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $178.39.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $0.49 during trading on Friday, hitting $156.69. 1,421,754 shares of the company traded hands, compared to its average volume of 1,515,281. The stock has a market capitalization of $51.12 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a one year low of $136.34 and a one 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 business's fifty day moving average is $163.73 and its 200-day moving average is $172.07.

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, 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%. As a group, equities 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date was Monday, March 10th. Simon Property Group's payout ratio is 115.70%.

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.