Mizuho Securities USA LLC Sells 5,246 Shares of Simon Property Group, Inc. (NYSE:SPG)

Mizuho Securities USA LLC decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 20.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,873 shares of the real estate investment trust’s stock after selling 5,246 shares during the quarter. Mizuho Securities USA LLC’s holdings in Simon Property Group were worth $3,359,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SPG. Smead Capital Management Inc. raised its stake in shares of Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after acquiring an additional 88,378 shares in the last quarter. Boston Partners raised its position in Simon Property Group by 4.2% during the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after purchasing an additional 92,648 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after buying an additional 993,694 shares during the period. Finally, PGGM Investments grew its position in shares of Simon Property Group by 1.9% during the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after buying an additional 23,186 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

NYSE SPG opened at $181.14 on Friday. The firm’s fifty day simple moving average is $172.55 and its two-hundred day simple moving average is $160.08. The firm has a market capitalization of $59.10 billion, a P/E ratio of 24.12, a P/E/G ratio of 10.61 and a beta of 1.74. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12-month low of $119.92 and a 12-month high of $183.96.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $3.20 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 109.19%.

Analysts Set New Price Targets

Several analysts recently weighed in on SPG shares. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Mizuho boosted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $162.78.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company 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.