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

Amundi increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.0% in the 2nd quarter, Holdings Channel reports. 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’s holdings in Simon Property Group were worth $298,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Trust Co. of Toledo NA OH purchased a new stake in shares of Simon Property Group during the second quarter worth $25,000. VSM Wealth Advisory LLC purchased a new position in shares of Simon Property Group in the second quarter valued at $30,000. Bell Investment Advisors Inc raised its stake 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 purchasing an additional 146 shares during the period. Clearstead Trust LLC lifted its holdings in Simon Property Group by 68.4% during the 2nd quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 108 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in Simon Property Group in the 1st quarter worth about $47,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SPG shares. JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Evercore ISI increased their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. 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 report on Monday, August 25th. Finally, Argus restated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $189.93.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $182.54 on Friday. The company’s fifty day moving average price is $181.03 and its 200-day moving average price is $172.69. The firm has a market capitalization of $59.60 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 8.93 and a beta of 1.37. Simon Property Group, Inc. has a one year low of $136.34 and a one 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.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $3.05 EPS. The firm’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. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is presently 125.18%.

Insider Transactions at Simon Property Group

In other news, Director Daniel C. Smith bought 335 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the transaction, the director directly owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This represents a 1.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary M. Rodkin bought 219 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 $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 2,121 shares of company stock worth $394,400. Company insiders own 8.66% of the company’s stock.

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.