Daiwa Securities Group Inc. Has $507.42 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Daiwa Securities Group Inc. cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,946,541 shares of the real estate investment trust's stock after selling 529,765 shares during the quarter. Simon Property Group comprises 2.3% of Daiwa Securities Group Inc.'s portfolio, making the stock its 9th largest position. Daiwa Securities Group Inc. owned approximately 0.90% of Simon Property Group worth $507,423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Simon Property Group in the third quarter valued at approximately $834,000. First Hawaiian Bank boosted its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after acquiring an additional 1,372 shares during the last quarter. Versant Capital Management Inc boosted its stake in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Simon Property Group in the fourth quarter valued at approximately $416,000. 93.01% of the stock is owned by institutional investors.

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Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $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 hyperlink. Insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPG shares. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and a consensus target price of $180.33.

Simon Property Group Stock Up 1.5 %

Shares of NYSE:SPG traded up $2.47 during midday trading on Wednesday, reaching $165.95. 1,951,062 shares of the company were exchanged, compared to its average volume of 1,338,635. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. 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 fifty day simple moving average of $177.62 and a two-hundred day simple moving average of $174.54. The firm has a market cap of $54.15 billion, a PE ratio of 22.86, a P/E/G ratio of 10.10 and a beta of 1.78.

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

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

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.