Nomura Holdings Inc. cut its holdings in Simon Property Group Inc (NYSE:SPG) by 86.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,987 shares of the real estate investment trust’s stock after selling 25,019 shares during the period. Nomura Holdings Inc.’s holdings in Simon Property Group were worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPG. Schroder Investment Management Group raised its position in Simon Property Group by 31.2% in the second quarter. Schroder Investment Management Group now owns 69,315 shares of the real estate investment trust’s stock valued at $11,867,000 after purchasing an additional 16,501 shares during the period. Gifford Fong Associates purchased a new stake in Simon Property Group in the second quarter valued at approximately $1,191,000. Advisors Asset Management Inc. raised its position in Simon Property Group by 9,319.7% in the second quarter. Advisors Asset Management Inc. now owns 992,926 shares of the real estate investment trust’s stock valued at $1,772,000 after purchasing an additional 982,385 shares during the period. BTC Capital Management Inc. raised its position in Simon Property Group by 2.7% in the second quarter. BTC Capital Management Inc. now owns 32,678 shares of the real estate investment trust’s stock valued at $5,567,000 after purchasing an additional 851 shares during the period. Finally, Glenmede Trust Co. NA raised its position in Simon Property Group by 41.2% in the second quarter. Glenmede Trust Co. NA now owns 196,085 shares of the real estate investment trust’s stock valued at $33,372,000 after purchasing an additional 57,226 shares during the period. Hedge funds and other institutional investors own 93.84% of the company’s stock.

Simon Property Group stock opened at $176.67 on Tuesday. Simon Property Group Inc has a twelve month low of $145.78 and a twelve month high of $186.03. The company has a debt-to-equity ratio of 6.13, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $57.81 billion, a PE ratio of 15.76, a P/E/G ratio of 2.48 and a beta of 0.52.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.13. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. analysts predict that Simon Property Group Inc will post 12.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.53%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.94. Simon Property Group’s dividend payout ratio is currently 71.36%.

SPG has been the topic of a number of research analyst reports. Bank of America boosted their target price on Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Jefferies Financial Group reissued a “$170.72” rating and issued a $194.00 target price on shares of Simon Property Group in a research report on Wednesday, July 18th. Barclays boosted their target price on Simon Property Group from $184.00 to $192.00 and gave the company an “overweight” rating in a research report on Tuesday, July 17th. Wells Fargo & Co boosted their target price on Simon Property Group from $175.00 to $183.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Finally, Royal Bank of Canada boosted their target price on Simon Property Group to $183.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 21st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $189.29.

In other news, CAO Steven K. Broadwater sold 859 shares of the company’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $170.28, for a total transaction of $146,270.52. Following the sale, the chief accounting officer now owns 1,734 shares of the company’s stock, valued at $295,265.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Rulli sold 1,330 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $177.05, for a total value of $235,476.50. The disclosure for this sale can be found here. 8.64% of the stock is currently owned by corporate insiders.

Simon Property Group 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.

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

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