Asset Management One Co. Ltd. Trims Stake in Simon Property Group, Inc. (NYSE:SPG)

Asset Management One Co. Ltd. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 583,943 shares of the real estate investment trust’s stock after selling 25,411 shares during the period. Asset Management One Co. Ltd. owned approximately 0.18% of Simon Property Group worth $98,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Clearstead Trust LLC purchased a new position in Simon Property Group during the first quarter worth about $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group in the 1st quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group in the second quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the second quarter valued at approximately $27,000. Finally, Pathway Financial Advisers LLC acquired a new position in Simon Property Group during the first quarter worth $29,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $168.95 on Monday. The firm’s 50 day moving average is $168.55 and its two-hundred day moving average is $156.50. Simon Property Group, Inc. has a 52 week low of $113.40 and a 52 week high of $177.08. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a market capitalization of $55.08 billion, a P/E ratio of 21.31, a P/E/G ratio of 9.61 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $2.88 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.97%. Simon Property Group’s dividend payout ratio is 104.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial lifted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group 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.