Sumitomo Mitsui Trust Group Inc. Cuts Position in Simon Property Group, Inc. (NYSE:SPG)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,478,206 shares of the real estate investment trust’s stock after selling 9,691 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Simon Property Group were worth $254,562,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 acquiring an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Simon Property Group by 373.6% during the 3rd 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 during the last quarter. International Assets Investment Management LLC boosted its position in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares in the last quarter. Hamlin Capital Management LLC purchased a new position in Simon Property Group during the 4th quarter worth $109,403,000. Finally, Mizuho Securities USA LLC increased its position in Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after buying an additional 633,072 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group 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 cost 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 approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Trading Up 0.5 %

Simon Property Group stock opened at $180.01 on Friday. The firm has a market cap of $58.73 billion, a PE ratio of 23.97, a P/E/G ratio of 9.31 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $186.00. The stock’s 50 day simple moving average is $175.65 and its two-hundred day simple moving average is $170.12. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Analysts anticipate that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. Simon Property Group’s dividend payout ratio is presently 111.85%.

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.