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

Daiwa Securities Group Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 about 2.3% of Daiwa Securities Group Inc.’s holdings, making the stock its 9th largest holding. Daiwa Securities Group Inc. owned about 0.90% of Simon Property Group worth $507,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPG. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Simon Property Group by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 291,463 shares of the real estate investment trust’s stock valued at $50,193,000 after acquiring an additional 79,779 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $1,131,000. Argentarii LLC purchased a new position in shares of Simon Property Group in the fourth quarter valued at approximately $1,229,000. OFI Invest Asset Management acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $587,000. Finally, Amundi increased its stake in Simon Property Group by 10.5% during the 4th quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock worth $301,088,000 after buying an additional 163,764 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock opened at $170.97 on Monday. The business has a 50 day moving average price of $178.03 and a 200 day moving average price of $174.60. 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 stock has a market cap of $55.78 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG) last issued 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 net margin of 41.49% and a return on equity of 74.02%. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. 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 presently 115.70%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $178.44.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

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.