Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478,206 shares of the real estate investment trust's stock after selling 9,691 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.45% of Simon Property Group worth $254,562,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 valued at $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock valued at $212,906,000 after purchasing an additional 993,694 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust's stock valued at $150,780,000 after purchasing an additional 887,356 shares in the last quarter. Hamlin Capital Management LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $109,403,000. Finally, Mizuho Securities USA LLC grew its position in shares of Simon Property Group by 2,520.3% in the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust's stock valued at $111,247,000 after purchasing an additional 633,072 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 2.1 %

NYSE:SPG traded up $3.81 during trading hours on Tuesday, reaching $184.37. 2,155,814 shares of the stock were exchanged, compared to its average volume of 1,335,000. 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 has a 50-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 company has a market capitalization of $60.16 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 9.58 and a beta of 1.74.

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, 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, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Monday, March 10th. Simon Property Group's payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction on Monday, December 30th. The shares were bought 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 $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.