Daiwa Securities Group buys $1,512.3 Million stake in Simon Property Group Inc (SPG)

Simon Property Group Inc (SPG) : Daiwa Securities Group scooped up 243,635 additional shares in Simon Property Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 7,696,406 shares of Simon Property Group Inc which is valued at $1,512.3 Million.Simon Property Group Inc makes up approximately 9.85% of Daiwa Securities Group’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc reduced its stake in SPG by selling 555 shares or 5.18% in the most recent quarter. The Hedge Fund company now holds 10,156 shares of SPG which is valued at $2 Million. Simon Property Group Inc makes up approx 0.01% of Victory Capital Management Inc’s portfolio.Mutual Of America Capital Management boosted its stake in SPG in the latest quarter, The investment management firm added 1,268 additional shares and now holds a total of 46,365 shares of Simon Property Group Inc which is valued at $9.1 Million. Simon Property Group Inc makes up approx 0.20% of Mutual Of America Capital Management’s portfolio.Ngam Advisors reduced its stake in SPG by selling 546 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 129,278 shares of SPG which is valued at $27.3 Million. Simon Property Group Inc makes up approx 0.41% of Ngam Advisors’s portfolio.Washington Trust Co reduced its stake in SPG by selling 54 shares or 3.35% in the most recent quarter. The Hedge Fund company now holds 1,556 shares of SPG which is valued at $328,036. Simon Property Group Inc makes up approx 0.02% of Washington Trust Co’s portfolio. Quantbot Technologies Lp sold out all of its stake in SPG during the most recent quarter. The investment firm sold 2,301 shares of SPG which is valued $462,892.

Simon Property Group Inc opened for trading at $194.92 and hit $196.87 on the upside on Friday, eventually ending the session at $195.13, with a gain of 0.66% or 1.28 points. The heightened volatility saw the trading volume jump to 22,66,908 shares. Company has a market cap of $60,377 M.

On the company’s financial health, Simon Property Group Inc reported $2.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.54. The company had revenue of $1336.70 million for the quarter, compared to analysts expectations of $1297.81 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS.

Many Wall Street Analysts have commented on Simon Property Group Inc. Mizuho Initiated Simon Property Group Inc on Apr 14, 2016 to “Buy”, Price Target of the shares are set at $233.Company shares were Reiterated by Stifel on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 232 from a previous price target of $220 .

Simon Property Group Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group L.P. (Operating Partnership) is the Company’s majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns develops and manages retail real estate properties which consist primarily of malls Premium Outlets and The Mills. As of December 31 2014 the Company owned or held an interest in 207 properties in the United States which consisted of 109 malls 68 Premium Outlets 13 Mills three community centers and 14 other retail properties in 37 states and Puerto Rico. As of December 31 2014 the Company had ownership interests in nine Premium Outlets in Japan three Premium Outlets in South Korea two Premium Outlets in Canada one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31 2014 the Company had non-controlling ownership interests in five outlet properties in Europe.

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