Sompo Asset Management Co. Ltd. Makes New $501,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Sompo Asset Management Co. Ltd. purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,910 shares of the real estate investment trust's stock, valued at approximately $501,000.

A number of other hedge funds have also modified their holdings of the business. MGO One Seven LLC raised its position in Simon Property Group by 5.0% in the 4th quarter. MGO One Seven LLC now owns 3,696 shares of the real estate investment trust's stock valued at $637,000 after purchasing an additional 176 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Simon Property Group by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,653,424 shares of the real estate investment trust's stock valued at $629,158,000 after acquiring an additional 81,359 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Simon Property Group by 1.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 45,688 shares of the real estate investment trust's stock valued at $7,867,000 after acquiring an additional 772 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Simon Property Group by 1.1% during the 4th quarter. MetLife Investment Management LLC now owns 94,124 shares of the real estate investment trust's stock valued at $16,209,000 after acquiring an additional 1,063 shares in the last quarter. Finally, Norinchukin Bank The increased its holdings in Simon Property Group by 3.7% during the 4th quarter. Norinchukin Bank The now owns 27,610 shares of the real estate investment trust's stock valued at $4,755,000 after acquiring an additional 984 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 1.2 %

Shares of SPG traded down $1.84 during mid-day trading on Tuesday, reaching $156.67. 379,815 shares of the stock traded hands, compared to its average volume of 1,511,002. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The stock has a fifty day simple moving average of $163.19 and a 200 day simple moving average of $172.01. The firm has a market cap of $51.12 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio is 115.70%.

Wall Street Analyst Weigh In

SPG has been the subject of several recent research reports. Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price for the company in a report on Wednesday, April 9th. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank decreased their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.39.

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.