Simon Property Group, Inc. (NYSE:SPG) Holdings Lifted by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its position in Simon Property Group, Inc. (NYSE:SPG) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,513 shares of the real estate investment trust’s stock after acquiring an additional 555 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $1,072,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Northern Trust Corp lifted its stake in shares of Simon Property Group by 1.9% in the 3rd quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust’s stock valued at $512,624,000 after acquiring an additional 86,778 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Simon Property Group by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,465,010 shares of the real estate investment trust’s stock valued at $374,325,000 after buying an additional 40,630 shares in the last quarter. Invesco Ltd. grew its position in shares of Simon Property Group by 3.1% during the 3rd quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust’s stock valued at $260,265,000 after purchasing an additional 71,751 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Simon Property Group by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,128,104 shares of the real estate investment trust’s stock valued at $229,897,000 after purchasing an additional 26,491 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Simon Property Group by 5.9% in the third quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock worth $203,866,000 after acquiring an additional 105,606 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPG has been the subject of several recent research reports. Morgan Stanley boosted their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their price target on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Finally, Truist Financial lifted their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Stock Performance

SPG stock traded up $1.43 during mid-day trading on Friday, hitting $144.16. 79,839 shares of the company were exchanged, compared to its average volume of 1,466,774. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The business has a 50 day simple moving average of $149.19 and a 200-day simple moving average of $136.55. The stock has a market capitalization of $46.98 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 7.49 and a beta of 1.65. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.15 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $1.95 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.41%. Simon Property Group’s dividend payout ratio is 111.75%.

Simon Property Group announced that its Board of Directors has approved a share repurchase program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Simon Property Group Profile

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.