Groupe la Francaise Purchases 9,658 Shares of Simon Property Group, Inc. $SPG

Groupe la Francaise increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 28.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,658 shares of the real estate investment trust’s stock after buying an additional 9,658 shares during the quarter. Groupe la Francaise’s holdings in Simon Property Group were worth $6,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Highland Capital Management LLC bought a new stake in Simon Property Group during the 2nd quarter worth about $1,196,000. Capital Advisors Inc. OK increased its position in shares of Simon Property Group by 0.5% in the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after acquiring an additional 2,064 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Simon Property Group by 5.7% in the second quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock valued at $4,731,000 after acquiring an additional 1,607 shares during the last quarter. Geode Capital Management LLC raised its holdings in Simon Property Group by 1.3% during the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after acquiring an additional 127,636 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC acquired a new position in Simon Property Group during the second quarter valued at approximately $283,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 464 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the transaction, the director directly owned 58,659 shares of the company’s stock, valued at approximately $10,907,641.05. This represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This represents a 0.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,121 shares of company stock valued at $394,400 in the last 90 days. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Argus reaffirmed a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Morgan Stanley lifted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average price target of $189.93.

Simon Property Group Price Performance

Shares of SPG opened at $182.10 on Wednesday. The company’s 50-day moving average is $181.10 and its 200-day moving average is $172.42. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $59.45 billion, a PE ratio of 28.15, a PEG ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

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

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. 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. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is 128.09%.

Simon Property Group Company 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.