Sumitomo Mitsui DS Asset Management Company Ltd Acquires 2,464 Shares of Simon Property Group, Inc. (NYSE:SPG)

by · The Markets Daily

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,907 shares of the real estate investment trust’s stock after acquiring an additional 2,464 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Simon Property Group were worth $17,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Hopwood Financial Services Inc. purchased a new position in Simon Property Group during the fourth quarter valued at $28,000. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the period. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $31,000. Continuum Advisory LLC grew its stake in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Finally, TCTC Holdings LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at approximately $34,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several analyst reports. Mizuho lowered their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. 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 note on Tuesday, May 13th. Scotiabank boosted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. dropped their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler cut their target price on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Six analysts have rated the stock with a hold rating and four 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 a consensus target price of $179.44.

View Our Latest Stock Report on SPG

Simon Property Group Price Performance

NYSE:SPG opened at $160.75 on Tuesday. The firm has a market capitalization of $52.47 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 8.95 and a beta of 1.47. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. The business has a 50 day simple moving average of $159.94 and a 200-day simple moving average of $166.63. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG – Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned $3.56 earnings per share. Simon Property Group’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.23%. Simon Property Group’s payout ratio is 133.76%.

Simon Property Group Company Profile

(Free Report)

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.

Further Reading

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