Simon Property Group, Inc. (NYSE:SPG) Position Decreased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.2% during the fourth quarter, HoldingsChannel reports. The fund owned 2,946,541 shares of the real estate investment trust’s stock after selling 529,765 shares during the period. Simon Property Group comprises approximately 2.3% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 9th biggest holding. Daiwa Securities Group Inc.’s holdings in Simon Property Group were worth $507,423,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Childress Capital Advisors LLC boosted its position in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 58 shares during the period. Global X Japan Co. Ltd. lifted its stake in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 59 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in shares of Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 61 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 62 shares in the last quarter. Finally, Carnegie Investment Counsel raised its holdings in shares of Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 2.0 %

NYSE:SPG opened at $170.97 on Monday. 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 $55.78 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The stock has a 50-day simple moving average of $178.03 and a 200 day simple moving average of $174.60.

Simon Property Group (NYSE:SPG) last issued 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 predict that Simon Property Group, Inc. will post 12.54 EPS 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. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPG. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $178.44.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.