Daiwa Securities Group Inc. Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

Daiwa Securities Group Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 comprises about 2.7% of Daiwa Securities Group Inc.’s holdings, making the stock its 7th largest holding. Daiwa Securities Group Inc. owned about 1.07% of Simon Property Group worth $587,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SPG. EntryPoint Capital LLC acquired a new position in Simon Property Group in the 1st quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group in the second quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group during the 2nd quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the 3rd quarter worth about $30,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank increased their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Down 0.4 %

NYSE SPG opened at $181.14 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock’s 50-day simple moving average is $172.55 and its two-hundred day simple moving average is $160.16. Simon Property Group, Inc. has a twelve month low of $119.92 and a twelve month high of $183.96. The company has a market capitalization of $59.10 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 10.61 and a beta of 1.74.

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

Simon Property Group Increases Dividend

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

Simon Property Group 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.