Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Simon Property Group, Inc. $SPG

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 13.9% in the third quarter, Holdings Channel.com reports. The fund owned 325,547 shares of the real estate investment trust’s stock after selling 52,592 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Simon Property Group were worth $61,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UniSuper Management Pty Ltd grew its holdings in Simon Property Group by 3.1% during the 3rd quarter. UniSuper Management Pty Ltd now owns 121,154 shares of the real estate investment trust’s stock valued at $22,737,000 after buying an additional 3,690 shares in the last quarter. Birch Financial Group LLC purchased a new stake in shares of Simon Property Group in the third quarter worth about $383,000. Emergent Wealth Advisors LLC boosted its position in shares of Simon Property Group by 8.0% in the third quarter. Emergent Wealth Advisors LLC now owns 7,495 shares of the real estate investment trust’s stock valued at $1,407,000 after acquiring an additional 557 shares during the period. iA Global Asset Management Inc. grew its stake in Simon Property Group by 12.6% during the third quarter. iA Global Asset Management Inc. now owns 16,633 shares of the real estate investment trust’s stock valued at $3,122,000 after acquiring an additional 1,864 shares in the last quarter. Finally, Strs Ohio increased its holdings in Simon Property Group by 1.6% during the 3rd quarter. Strs Ohio now owns 378,501 shares of the real estate investment trust’s stock worth $71,033,000 after acquiring an additional 5,903 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 363 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the transaction, the director directly owned 43,899 shares in the company, valued at $8,165,214. This trade represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary M. Rodkin purchased 226 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $42,036.00. Following the completion of the transaction, the director owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This trade represents a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 2,192 shares of company stock worth $407,712. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Trading Down 0.1%

Shares of SPG stock opened at $184.83 on Friday. The business has a 50-day moving average price of $184.23 and a two-hundred day moving average price of $178.66. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm has a market cap of $60.34 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.Simon Property Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Evercore ISI boosted their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Truist Financial raised their price target on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a report on Wednesday, December 17th. Barclays reissued a “positive” rating and set a $188.00 price objective on shares of Simon Property Group in a report on Tuesday, January 13th. Finally, Mizuho set a $192.00 target price on shares of Simon Property Group in a research note on Friday, January 9th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $194.64.

Simon Property Group Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.