Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,488 shares of the real estate investment trust’s stock after selling 106 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $1,634,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Simon Property Group in the third quarter valued at $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group during the fourth quarter worth about $41,000. Eastern Bank purchased a new position in Simon Property Group in the 3rd quarter worth about $42,000. Ashton Thomas Securities LLC purchased a new position in Simon Property Group in the 3rd quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 214 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SPG. Mizuho raised 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. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, 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 target on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Price Performance

Simon Property Group stock opened at $173.47 on Tuesday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $56.60 billion, a P/E ratio of 23.10, a P/E/G ratio of 9.31 and a beta of 1.74. The business’s fifty day moving average is $176.08 and its two-hundred day moving average is $169.77. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $3.20 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

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.