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

Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,921 shares of the real estate investment trust’s stock after selling 400 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Simon Property Group were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SPG. Wilmington Savings Fund Society FSB acquired a new stake in Simon Property Group during the third quarter worth $834,000. First Hawaiian Bank increased its position in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc lifted its position in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 421 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in Simon Property Group during the fourth quarter worth about $416,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SPG. Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $180.33.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $168.44 on Thursday. The business has a 50-day simple moving average of $175.76 and a 200-day simple moving average of $174.42. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The company has a market cap of $54.96 billion, a PE ratio of 23.20, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

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.