Nissay Asset Management Corp Japan ADV Buys 1,813 Shares of Simon Property Group, Inc. (NYSE:SPG)

Nissay Asset Management Corp Japan ADV grew its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,470 shares of the real estate investment trust's stock after acquiring an additional 1,813 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Simon Property Group were worth $14,358,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pitcairn Co. raised its stake in shares of Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after purchasing an additional 55 shares in the last quarter. Colonial Trust Co SC raised its stake in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 57 shares during the period. Childress Capital Advisors LLC lifted its holdings in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. increased its holdings in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 59 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its position in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPG. 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 research report on Tuesday, May 13th. Scotiabank lowered their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Moderate Buy" and an average price target of $179.67.

Simon Property Group Trading Down 1.1%

SPG stock traded down $1.77 during mid-day trading on Tuesday, reaching $162.72. The company's stock had a trading volume of 339,914 shares, compared to its average volume of 1,525,727. The business's 50 day moving average price is $158.06 and its 200 day moving average price is $170.87. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a market cap of $53.12 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $3.56 earnings per share. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is currently 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.