Nomura Asset Management Co. Ltd. Has $39.80 Million Holdings in Simon Property Group Inc (NYSE:SPG)

Nomura Asset Management Co. Ltd. cut its stake in shares of Simon Property Group Inc (NYSE:SPG) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,133 shares of the real estate investment trust’s stock after selling 14,494 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Simon Property Group were worth $39,802,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Ashburton Jersey Ltd acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $25,000. Global Retirement Partners LLC raised its position in shares of Simon Property Group by 150.0% in the first quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 99 shares in the last quarter. Marino Stram & Associates LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $32,000. Weaver Consulting Group acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $32,000. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Simon Property Group by 59.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 259 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

SPG has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. Morgan Stanley dropped their price target on shares of Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. ValuEngine downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. SunTrust Banks lowered their price objective on shares of Simon Property Group from $185.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Finally, Deutsche Bank lowered their price objective on shares of Simon Property Group from $191.00 to $188.00 and set a “hold” rating for the company in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $186.58.



SPG traded down $1.37 during trading on Friday, hitting $153.90. 73,829 shares of the stock traded hands, compared to its average volume of 1,516,621. Simon Property Group Inc has a twelve month low of $145.42 and a twelve month high of $191.49. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 7.02, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day moving average price of $152.82 and a 200 day moving average price of $167.23.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $2.99 EPS for the quarter, beating the consensus estimate of $2.98 by $0.01. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $2.98 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, equities research analysts predict that Simon Property Group Inc will post 12.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Thursday, August 15th. Simon Property Group’s payout ratio is currently 69.25%.

About Simon Property Group

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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