Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Simon Property Group, Inc. $SPG

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 817,971 shares of the real estate investment trust’s stock after purchasing an additional 51,203 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Simon Property Group worth $131,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 valued at $7,588,195,000 after acquiring an additional 267,503 shares during the last quarter. Northern Trust Corp grew 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 worth $923,236,000 after acquiring an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after purchasing an additional 141,657 shares during the period. Nuveen LLC bought a new stake in Simon Property Group in the first quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $608,086,000 after purchasing an additional 23,873 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.62 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm’s fifty day simple moving average is $180.44 and its 200 day simple moving average is $169.63. The stock has a market cap of $59.95 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned $3.05 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley raised 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. Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Evercore ISI raised their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $187.69.

Insiders Place Their Bets

In other news, Director Daniel C. Smith acquired 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the transaction, the director owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stefan M. Selig bought 195 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 2,163 shares of company stock valued at $401,605 over the last ninety days. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Company Profile

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.