Mufg Securities Americas Inc. Acquires New Shares in Simon Property Group, Inc. (NYSE:SPG)

Mufg Securities Americas Inc. bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,528 shares of the real estate investment trust’s stock, valued at approximately $780,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in Simon Property Group by 2.6% during the fourth quarter. Brookstone Capital Management now owns 21,728 shares of the real estate investment trust’s stock valued at $3,742,000 after purchasing an additional 558 shares during the period. Marcum Wealth LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $203,000. Fifth Third Wealth Advisors LLC increased its position in shares of Simon Property Group by 2.4% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,639 shares of the real estate investment trust’s stock valued at $627,000 after buying an additional 85 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Simon Property Group by 0.6% in the 4th quarter. Park Avenue Securities LLC now owns 12,420 shares of the real estate investment trust’s stock valued at $2,139,000 after buying an additional 71 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Simon Property Group by 23.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 508 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 95 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.1%

Shares of SPG stock opened at $161.04 on Thursday. The stock has a 50 day simple moving average of $158.11 and a 200 day simple moving average of $171.00. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year 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. The stock has a market cap of $52.54 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

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

Simon Property Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SPG shares. Scotiabank decreased their target price on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.67.

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.