Daiwa Securities Group Inc. Has $587.57 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Daiwa Securities Group Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,476,306 shares of the real estate investment trust’s stock after selling 111,601 shares during the period. Simon Property Group makes up approximately 2.7% of Daiwa Securities Group Inc.’s holdings, making the stock its 7th largest holding. Daiwa Securities Group Inc.’s holdings in Simon Property Group were worth $587,565,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its position in Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares during the last quarter. Inspire Advisors LLC boosted its position in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the period. Diligent Investors LLC boosted its stake in shares of Simon Property Group by 0.5% in the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares during the period. Augustine Asset Management Inc. grew its stake in Simon Property Group by 3.8% during the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 68 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several analyst reports. Mizuho raised their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank increased their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Truist Financial boosted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insiders Place Their Bets

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Trading Down 0.4 %

Shares of NYSE:SPG opened at $181.14 on Friday. The firm has a market capitalization of $59.10 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 10.61 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $119.92 and a 1 year high of $183.96. The business’s 50 day moving average price is $172.55 and its 200-day moving average price is $160.16. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $3.20 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

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.