Global X Japan Co. Ltd. Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Global X Japan Co. Ltd. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.9% in the 4th quarter, Holdings Channel reports. The fund owned 655 shares of the real estate investment trust’s stock after buying an additional 59 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Simon Property Group were worth $113,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP bought a new position in Simon Property Group during the third quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $41,000. Eastern Bank bought a new position in Simon Property Group in the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC bought a new position in Simon Property Group in the 3rd quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.1 %

Shares of SPG opened at $180.01 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $186.00. The company has a market capitalization of $58.73 billion, a P/E ratio of 24.79, a P/E/G ratio of 9.58 and a beta of 1.74. The firm’s 50 day simple moving average is $175.57 and its 200 day simple moving average is $170.19.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research note on Wednesday. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $175.10.

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.