Sumitomo Mitsui Trust Group Inc. Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,478,206 shares of the real estate investment trust’s stock after selling 9,691 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.45% of Simon Property Group worth $254,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the 3rd quarter worth $834,000. First Hawaiian Bank lifted its position in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC boosted its stake in Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 10,644 shares during the last quarter. TTP Investments Inc. boosted its stake in Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after buying an additional 10,147 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $175.10.

Simon Property Group Stock Up 0.5 %

Shares of NYSE:SPG opened at $180.01 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The business has a 50 day simple moving average of $175.65 and a two-hundred day simple moving average of $170.12. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $186.00. The firm has a market capitalization of $58.73 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. On average, equities analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.67%. Simon Property Group’s payout ratio is 111.85%.

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.