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

Daiwa Securities Group Inc. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,917,587 shares of the real estate investment trust's stock after selling 255,131 shares during the quarter. Simon Property Group comprises about 4.4% of Daiwa Securities Group Inc.'s holdings, making the stock its 3rd largest position. Daiwa Securities Group Inc. owned 1.51% of Simon Property Group worth $701,445,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Simon Property Group by 10.4% during the first quarter. Geode Capital Management LLC now owns 8,144,366 shares of the real estate investment trust's stock worth $910,337,000 after purchasing an additional 765,146 shares during the last quarter. Cowa LLC bought a new stake in Simon Property Group during the first quarter worth about $107,000. Norges Bank bought a new stake in Simon Property Group during the fourth quarter worth about $807,887,000. Morgan Stanley lifted its stake in shares of Simon Property Group by 6.9% in the 4th quarter. Morgan Stanley now owns 6,500,305 shares of the real estate investment trust's stock valued at $763,656,000 after acquiring an additional 421,554 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Simon Property Group by 1.9% in the 3rd quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust's stock valued at $512,624,000 after acquiring an additional 86,778 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 0.4 %

NYSE:SPG traded up $0.55 during mid-day trading on Wednesday, reaching $140.90. 1,019,688 shares of the company's stock traded hands, compared to its average volume of 1,511,788. Simon Property Group, Inc. has a 12-month low of $100.17 and a 12-month high of $157.82. The firm has a market capitalization of $45.92 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 7.47 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The company has a 50 day moving average price of $149.56 and a 200-day moving average price of $135.19.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $3.15 EPS. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group declared that its board has authorized a share repurchase program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This is an increase from Simon Property Group's previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.54%. Simon Property Group's dividend payout ratio is 111.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Simon Property Group from a "hold" rating to a "buy" rating in a research note on Tuesday, April 9th. Piper Sandler boosted their target price on Simon Property Group from $148.00 to $172.00 and gave the company an "overweight" rating in a research note on Wednesday, December 20th. Truist Financial boosted their target price on Simon Property Group from $139.00 to $147.00 and gave the company a "hold" rating in a research note on Friday, March 22nd. Morgan Stanley boosted their target price on Simon Property Group from $143.00 to $145.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Finally, The Goldman Sachs Group boosted their price target on Simon Property Group from $144.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group currently has an average rating of "Moderate Buy" and an average target price of $140.22.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.