Daiwa Securities Group Inc. Sells 93,128 Shares of Simon Property Group Inc (SPG)

Daiwa Securities Group Inc. trimmed its holdings in shares of Simon Property Group Inc (NYSE:SPG) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,060,653 shares of the real estate investment trust’s stock after selling 93,128 shares during the quarter. Simon Property Group accounts for about 3.1% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 7th biggest position. Daiwa Securities Group Inc. owned approximately 0.64% of Simon Property Group worth $364,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPG. Principal Financial Group Inc. increased its position in shares of Simon Property Group by 3.1% during the first quarter. Principal Financial Group Inc. now owns 6,096,513 shares of the real estate investment trust’s stock worth $940,997,000 after acquiring an additional 185,668 shares during the last quarter. DnB Asset Management AS increased its position in shares of Simon Property Group by 6.3% during the second quarter. DnB Asset Management AS now owns 38,963 shares of the real estate investment trust’s stock worth $6,631,000 after acquiring an additional 2,300 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Simon Property Group by 48.6% during the second quarter. IFM Investors Pty Ltd now owns 14,413 shares of the real estate investment trust’s stock worth $2,453,000 after acquiring an additional 4,715 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Simon Property Group by 20.6% during the second quarter. Capital Investment Advisors LLC now owns 38,278 shares of the real estate investment trust’s stock worth $6,515,000 after acquiring an additional 6,537 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Simon Property Group by 21.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,744 shares of the real estate investment trust’s stock worth $978,000 after acquiring an additional 1,000 shares during the last quarter. 92.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of Simon Property Group stock opened at $180.41 on Friday. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market capitalization of $57.79 billion, a P/E ratio of 16.09, a PEG ratio of 2.45 and a beta of 0.40. Simon Property Group Inc has a fifty-two week low of $145.78 and a fifty-two week high of $188.21.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.07. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Equities research analysts anticipate that Simon Property Group Inc will post 12.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $8.00 dividend on an annualized basis and a yield of 4.43%. Simon Property Group’s payout ratio is currently 71.36%.

In other Simon Property Group news, insider John Rulli sold 1,330 shares of Simon Property Group stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $177.05, for a total value of $235,476.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.64% of the company’s stock.

Several brokerages recently weighed in on SPG. Citigroup boosted their price objective on Simon Property Group from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, October 30th. Raymond James boosted their price objective on Simon Property Group from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, October 29th. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Scotiabank began coverage on Simon Property Group in a report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, Argus boosted their price objective on Simon Property Group to $200.00 and gave the company a “buy” rating in a report on Thursday, October 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Simon Property Group has an average rating of “Buy” and an average target price of $195.42.

Simon Property Group Company Profile

Simon is a global leader 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.

See Also: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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