Mitsubishi UFJ Asset Management Co. Ltd. Acquires 51,203 Shares of Simon Property Group, Inc. $SPG

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 6.7% during the second quarter, Holdings Channel.com reports. The firm owned 817,971 shares of the real estate investment trust’s stock after acquiring an additional 51,203 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $131,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp increased its position in Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after buying an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. increased its position in Simon Property Group by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after buying an additional 141,657 shares in the last quarter. Nuveen LLC purchased a new position in Simon Property Group during the first quarter valued at $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Simon Property Group by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after acquiring an additional 23,873 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stefan M. Selig purchased 195 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the purchase, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel C. Smith acquired 335 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director directly owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 2,163 shares of company stock worth $401,605 in the last 90 days. Insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $183.62 on Friday. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock has a 50-day moving average of $180.44 and a 200 day moving average of $169.63. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $59.95 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.05 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a $2.20 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is 128.09%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Piper Sandler increased their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Morgan Stanley lifted their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Scotiabank increased their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $187.69.

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.