Simon Property Group, Inc. $SPG Shares Purchased by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. increased its stake in Simon Property Group by 67.1%, holding 76,407 shares valued at approximately $12.69 million.
• Simon Property Group announced a quarterly dividend of $2.15, up from the previous $2.10, representing an annual yield of 4.8%.
• Analysts have mixed views on the stock, with five giving it a buy rating and six a hold rating, while the consensus target price stands at $184.91.

Nomura Holdings Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 67.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,407 shares of the real estate investment trust's stock after acquiring an additional 30,692 shares during the period. Nomura Holdings Inc.'s holdings in Simon Property Group were worth $12,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after acquiring an additional 789 shares during the period. Golden State Wealth Management LLC grew its holdings in Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after acquiring an additional 509 shares during the period. Brighton Jones LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $295,000. J.W. Cole Advisors Inc. acquired a new stake in Simon Property Group during the first quarter worth about $895,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after purchasing an additional 4,589 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin bought 246 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Glyn Aeppel bought 234 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the transaction, the director owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,428 shares of company stock valued at $387,271. 8.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective on the stock. Barclays assumed coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective on the stock. Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank raised their price objective on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, Truist Financial raised their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a report on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $184.91.

Simon Property Group Stock Performance

NYSE SPG opened at $180.95 on Monday. The company has a market cap of $59.08 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. The stock's 50 day simple moving average is $166.93 and its 200-day simple moving average is $164.41. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is 129.83%.

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.

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