Tokio Marine Asset Management Co. Ltd. Purchases 555 Shares of Simon Property Group, Inc. (NYSE:SPG)

Tokio Marine Asset Management Co. Ltd. lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,513 shares of the real estate investment trust’s stock after acquiring an additional 555 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $1,072,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northern Trust Corp raised its position in Simon Property Group by 1.9% in the 3rd quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust’s stock valued at $512,624,000 after buying an additional 86,778 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Simon Property Group by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,465,010 shares of the real estate investment trust’s stock valued at $374,325,000 after buying an additional 40,630 shares during the period. Invesco Ltd. increased its position in Simon Property Group by 3.1% during the third quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust’s stock valued at $260,265,000 after acquiring an additional 71,751 shares during the last quarter. Principal Financial Group Inc. increased its position in Simon Property Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 2,128,104 shares of the real estate investment trust’s stock worth $229,897,000 after buying an additional 26,491 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Simon Property Group by 5.9% during the third quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock worth $203,866,000 after purchasing an additional 105,606 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial lifted their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Evercore ISI boosted their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Morgan Stanley increased their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Stock Performance

NYSE:SPG traded up $1.43 during mid-day trading on Friday, reaching $144.16. 79,839 shares of the company’s stock were exchanged, compared to its average volume of 1,466,774. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The firm has a market capitalization of $46.98 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 7.49 and a beta of 1.65. The business’s fifty day simple moving average is $149.19 and its two-hundred day simple moving average is $136.55.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.15 EPS. Analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio is 111.75%.

Simon Property Group declared that its Board of Directors has approved a share repurchase program on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.