Nomura Asset Management Co. Ltd. Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Nomura Asset Management Co. Ltd. lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,082 shares of the real estate investment trust's stock after selling 17,115 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.15% of Simon Property Group worth $82,327,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SPG. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $27,000. RFP Financial Group LLC lifted its stake in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 160 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group during the third quarter worth $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at $42,000. Finally, Eastern Bank acquired a new position in Simon Property Group during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 0.3 %

SPG traded up $0.63 on Monday, reaching $182.37. The company's stock had a trading volume of 708,406 shares, compared to its average volume of 1,440,035. The company has a market capitalization of $59.50 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $186.00. 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 has a 50 day moving average of $175.66 and a two-hundred day moving average of $162.66.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period last year, the business earned $3.20 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 yield of 4.61%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is currently 109.19%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Evercore ISI upgraded shares of Simon Property Group from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. Finally, Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $165.44.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares of the company's stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by corporate 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.