BLI Banque de Luxembourg Investments Makes New Investment in Simon Property Group, Inc. $SPG

BLI Banque de Luxembourg Investments acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,800 shares of the real estate investment trust’s stock, valued at approximately $4,942,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in Simon Property Group in the fourth quarter valued at $295,000. XTX Topco Ltd grew its stake in shares of Simon Property Group by 96.8% in the 1st quarter. XTX Topco Ltd now owns 6,161 shares of the real estate investment trust’s stock valued at $1,023,000 after buying an additional 3,030 shares during the period. Arkadios Wealth Advisors bought a new stake in Simon Property Group in the 1st quarter valued at about $397,000. Commerce Bank raised its stake in Simon Property Group by 1.2% during the 1st quarter. Commerce Bank now owns 20,778 shares of the real estate investment trust’s stock worth $3,451,000 after buying an additional 250 shares during the period. Finally, TIAA Trust National Association boosted its holdings in Simon Property Group by 33.5% in the first quarter. TIAA Trust National Association now owns 2,031 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 510 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent research reports. Argus reiterated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Barclays upped their price objective on shares of Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Citigroup boosted their target price on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Piper Sandler raised their price target on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.93.

Insider Activity

In other news, Director Stefan M. Selig bought 195 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the purchase, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This trade represents a 0.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith purchased 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the acquisition, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 2,121 shares of company stock valued at $394,400. 8.66% of the stock is currently owned by insiders.

Simon Property Group Trading Up 0.5%

NYSE:SPG opened at $186.52 on Monday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm’s 50 day moving average is $181.06 and its 200 day moving average is $172.14. The stock has a market capitalization of $60.89 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

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.