Amundi Acquires 192,889 Shares of Simon Property Group, Inc. $SPG

Amundi lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,796,940 shares of the real estate investment trust’s stock after purchasing an additional 192,889 shares during the period. Amundi owned 0.55% of Simon Property Group worth $298,083,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group in the second quarter valued at approximately $25,000. VSM Wealth Advisory LLC bought a new stake in shares of Simon Property Group in the 2nd quarter valued at $30,000. Bell Investment Advisors Inc lifted its position in shares of Simon Property Group by 205.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Clearstead Trust LLC boosted its stake in Simon Property Group by 68.4% during the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 108 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith purchased 335 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 219 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,121 shares of company stock worth $394,400 over the last 90 days. Corporate insiders own 8.66% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of recent research reports. Scotiabank boosted their price target on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Morgan Stanley raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Stifel Nicolaus increased their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $189.93.

Simon Property Group Trading Down 0.4%

Shares of Simon Property Group stock opened at $182.54 on Friday. The firm has a market cap of $59.60 billion, a PE ratio of 26.57, a P/E/G ratio of 8.93 and a beta of 1.37. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a fifty day moving average price of $181.03 and a 200-day moving average price of $172.69.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $3.05 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is currently 125.18%.

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.