Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,604 shares of the real estate investment trust’s stock after buying an additional 20,196 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.10% of Simon Property Group worth $41,126,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in Simon Property Group by 3.5% in the 4th quarter. BlackRock Inc. now owns 35,039,594 shares of the real estate investment trust’s stock valued at $5,598,275,000 after acquiring an additional 1,181,872 shares during the last quarter. State Street Corp raised its holdings in Simon Property Group by 7.4% in the fourth quarter. State Street Corp now owns 21,332,871 shares of the real estate investment trust’s stock valued at $3,408,353,000 after buying an additional 1,478,289 shares during the period. Geode Capital Management LLC raised its stake in shares of Simon Property Group by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 7,468,805 shares of the real estate investment trust’s stock valued at $1,192,310,000 after purchasing an additional 693,293 shares during the period. Deutsche Bank AG increased its stake in shares of Simon Property Group by 8.5% in the fourth quarter. Deutsche Bank AG now owns 3,542,890 shares of the real estate investment trust’s stock worth $566,047,000 after buying an additional 276,291 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Simon Property Group in the fourth quarter worth $518,891,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPG has been the subject of several research reports. Compass Point decreased their price target on shares of Simon Property Group from $200.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Simon Property Group from $173.00 to $129.00 in a report on Monday, July 18th. Truist Financial decreased their price objective on shares of Simon Property Group from $155.00 to $130.00 in a research note on Friday, June 3rd. Piper Sandler cut their target price on shares of Simon Property Group to $130.00 in a research report on Monday, July 4th. Finally, Mizuho decreased their target price on Simon Property Group from $158.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and an average target price of $145.07.

Simon Property Group Trading Up 0.6 %

SPG opened at $106.50 on Friday. Simon Property Group, Inc. has a 1-year low of $93.06 and a 1-year high of $171.12. The company has a current ratio of 1.02, a quick ratio of 1.10 and a debt-to-equity ratio of 7.13. The company has a market cap of $35.00 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 2.48 and a beta of 1.49. The company has a fifty day moving average price of $101.77 and a two-hundred day moving average price of $120.94.

Simon Property Group (NYSE:SPGGet Rating) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.92 earnings per share. Analysts predict that Simon Property Group, Inc. will post 11.7 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $1.75 per share. The ex-dividend date is Thursday, September 8th. This represents a $7.00 annualized dividend and a yield of 6.57%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.70. Simon Property Group’s payout ratio is 106.08%.

About Simon Property Group

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Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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