Mitsubishi UFJ Asset Management Co. Ltd. Has $71.54 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 510,682 shares of the real estate investment trust's stock after purchasing an additional 15,251 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Simon Property Group worth $71,541,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. LPL Financial LLC grew its stake in shares of Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust's stock worth $38,903,000 after acquiring an additional 51,380 shares in the last quarter. Nordea Investment Management AB raised its position in Simon Property Group by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust's stock valued at $21,923,000 after purchasing an additional 6,703 shares in the last quarter. SG Americas Securities LLC raised its position in Simon Property Group by 121.5% in the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust's stock valued at $4,565,000 after purchasing an additional 17,552 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $238,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Simon Property Group by 9.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust's stock worth $11,670,000 after buying an additional 7,250 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

NYSE SPG traded up $2.57 on Tuesday, hitting $149.54. 968,837 shares of the company's stock were exchanged, compared to its average volume of 1,483,418. The firm has a market cap of $48.73 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 7.65 and a beta of 1.68. The firm's 50-day moving average price is $147.89 and its two-hundred day moving average price is $140.17. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the prior year, the firm posted $2.74 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts expect that Simon Property Group, Inc. will post 12.87 EPS for the current year.

Simon Property Group declared that its board has authorized a share buyback program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from Simon Property Group's previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a dividend yield of 5.35%. Simon Property Group's payout ratio is currently 101.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a "hold" rating in a report on Friday, March 22nd. Evercore ISI raised their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 28th. StockNews.com raised Simon Property Group from a "hold" rating to a "buy" rating in a report on Thursday, April 18th. Finally, Morgan Stanley raised their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of "Moderate Buy" and an average target price of $140.22.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.