Simon Property Group, Inc. (NYSE:SPG) Position Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 697,717 shares of the real estate investment trust’s stock after acquiring an additional 46,786 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $122,847,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the 4th quarter worth about $28,000. WR Wealth Planners LLC boosted its position in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $30,000. TCTC Holdings LLC acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $34,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPG. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group presently has an average rating of “Moderate Buy” and an average target price of $180.33.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $165.91 on Friday. The stock’s fifty day simple moving average is $175.62 and its 200 day simple moving average is $174.36. The stock has a market capitalization of $54.13 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

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.