Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,907 shares of the real estate investment trust's stock after acquiring an additional 2,464 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Simon Property Group were worth $17,921,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPG. Farther Finance Advisors LLC increased its holdings in Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after buying an additional 509 shares during the period. Brighton Jones LLC bought a new position in shares of Simon Property Group during the 4th quarter worth $295,000. PNC Financial Services Group Inc. increased its stake in shares of Simon Property Group by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock valued at $62,322,000 after buying an additional 25,987 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after acquiring an additional 4,589 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 2.2%

NYSE SPG traded up $3.53 on Tuesday, hitting $164.29. The stock had a trading volume of 1,772,262 shares, compared to its average volume of 1,537,982. The business's fifty day moving average price is $159.94 and its 200 day moving average price is $166.63. The stock has a market cap of $53.63 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 8.95 and a beta of 1.47. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14.

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

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is currently 133.76%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPG. Scotiabank increased their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Mizuho lowered their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Finally, Piper Sandler cut their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $179.44.

Insider Buying and Selling

In related news, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reuben S. Leibowitz bought 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,386 shares of company stock worth $380,066 over the last ninety days. Company insiders own 8.60% of the company's stock.

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.