Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,474 shares of the real estate investment trust’s stock after purchasing an additional 3,702 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Simon Property Group were worth $5,592,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group in the 3rd quarter worth about $834,000. First Hawaiian Bank lifted its holdings in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in Simon Property Group during the fourth quarter valued at $416,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Mizuho boosted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Down 1.5 %

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

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

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

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.