Nissay Asset Management Corp Japan ADV Purchases 1,813 Shares of Simon Property Group, Inc. (NYSE:SPG)

Nissay Asset Management Corp Japan ADV boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,470 shares of the real estate investment trust’s stock after acquiring an additional 1,813 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Simon Property Group were worth $14,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pitcairn Co. grew its holdings in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 55 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 57 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 59 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 60 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Stifel Nicolaus boosted their price target on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Scotiabank dropped their price target on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $179.67.

Simon Property Group Trading Up 0.1%

NYSE SPG opened at $161.04 on Thursday. The firm has a market capitalization of $52.54 billion, a P/E ratio of 22.18, a PEG ratio of 10.10 and a beta of 1.43. The business has a fifty day simple moving average of $158.11 and a 200 day simple moving average of $171.00. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Simon Property Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.56 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Monday, June 9th. Simon Property Group’s payout ratio is currently 115.70%.

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.