Mizuho Securities USA LLC Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Mizuho Securities USA LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 46.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,068 shares of the real estate investment trust's stock after purchasing an additional 9,195 shares during the period. Mizuho Securities USA LLC's holdings in Simon Property Group were worth $5,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Simon Property Group during the third quarter worth about $1,590,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Simon Property Group by 126.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust's stock worth $1,568,000 after acquiring an additional 5,177 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Simon Property Group by 8.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,874 shares of the real estate investment trust's stock worth $3,021,000 after acquiring an additional 1,387 shares during the period. Intech Investment Management LLC increased its stake in Simon Property Group by 21.2% in the 3rd quarter. Intech Investment Management LLC now owns 31,388 shares of the real estate investment trust's stock valued at $5,305,000 after purchasing an additional 5,484 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Simon Property Group by 1.6% during the third quarter. Raymond James Trust N.A. now owns 6,996 shares of the real estate investment trust's stock worth $1,182,000 after purchasing an additional 110 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, StockNews.com raised Simon Property Group from a "hold" rating to a "buy" rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.33.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Trading Down 0.1 %

SPG traded down $0.21 during trading on Tuesday, hitting $165.91. The company's stock had a trading volume of 1,128,629 shares, compared to its average volume of 1,341,945. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The stock has a market cap of $54.13 billion, a PE ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The firm's 50 day moving average price is $175.98 and its 200-day moving average price is $174.45. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business 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 is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. Simon Property Group's dividend payout ratio is presently 115.70%.

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.