Asset Management One Co. Ltd. Purchases 13,638 Shares of Simon Property Group, Inc. (NYSE:SPG)

Asset Management One Co. Ltd. lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 601,571 shares of the real estate investment trust's stock after acquiring an additional 13,638 shares during the period. Asset Management One Co. Ltd. owned 0.18% of Simon Property Group worth $99,909,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $28,000. WR Wealth Planners LLC lifted its position in Simon Property Group by 328.2% in 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 last quarter. Caisse Des Depots ET Consignations bought a new stake in Simon Property Group in the fourth quarter worth $31,000. Continuum Advisory LLC boosted its stake in Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares during the period. Finally, TCTC Holdings LLC bought a new position in Simon Property Group during the fourth quarter valued at $34,000. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Stifel Nicolaus increased their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Scotiabank boosted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Finally, Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $179.44.

Simon Property Group Stock Down 1.7%

Shares of SPG traded down $2.80 during midday trading on Wednesday, reaching $157.32. 1,379,812 shares of the stock were exchanged, compared to its average volume of 1,541,636. The company has a market capitalization of $51.35 billion, a P/E ratio of 25.05, a PEG ratio of 8.93 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company's 50 day moving average is $159.27 and its two-hundred day moving average is $167.18.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.56 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.34%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Simon Property Group Company 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.