Mizuho Securities USA LLC Buys 633,072 Shares of Simon Property Group, Inc. (NYSE:SPG)

Mizuho Securities USA LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2,520.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 658,191 shares of the real estate investment trust’s stock after buying an additional 633,072 shares during the quarter. Mizuho Securities USA LLC’s holdings in Simon Property Group were worth $111,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SPG. Clearstead Trust LLC purchased a new stake in Simon Property Group in the first quarter worth $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group in the second quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in Simon Property Group in the second quarter worth $27,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group during the third quarter valued at approximately $30,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $180.27 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. The business has a fifty day moving average of $170.77 and a 200 day moving average of $158.71. The firm has a market capitalization of $58.77 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 10.45 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $119.72 and a 1 year high of $182.84.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $3.20 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPG. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Finally, Scotiabank upped their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group Profile

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.