Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 505,408 shares of the real estate investment trust’s stock after buying an additional 18,326 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $87,036,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group during the 4th quarter valued at about $28,000. WR Wealth Planners LLC boosted its holdings in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Simon Property Group during the 4th quarter valued at $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Five 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 target price of $180.33.

Simon Property Group Stock Performance

Shares of SPG opened at $165.91 on Friday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market capitalization of $54.13 billion, a PE ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The company’s 50 day moving average price is $175.62 and its 200 day moving average price is $174.36.

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

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.