Simon Property Group, Inc. $SPG Shares Purchased by Credit Agricole S A

Credit Agricole S A increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.7% during the first quarter, Holdings Channel reports. The fund owned 89,171 shares of the real estate investment trust’s stock after acquiring an additional 6,340 shares during the quarter. Credit Agricole S A’s holdings in Simon Property Group were worth $14,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SPG. Nuveen LLC acquired a new stake in Simon Property Group during the first quarter worth approximately $724,937,000. Principal Financial Group Inc. boosted its holdings in shares of Simon Property Group by 133.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock valued at $532,529,000 after purchasing an additional 1,830,264 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. Resolution Capital Ltd acquired a new position in shares of Simon Property Group in the 4th quarter valued at $212,592,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Simon Property Group in the 1st quarter valued at $197,377,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other news, Director Glyn Aeppel purchased 234 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director directly owned 19,057 shares of the company’s stock, valued at approximately $3,035,589.53. This represents a 1.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stefan M. Selig purchased 219 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the purchase, the director directly owned 31,881 shares in the company, valued at $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,428 shares of company stock worth $387,271 over the last three months. 8.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Mizuho decreased their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Stifel Nicolaus set a $179.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Scotiabank lifted their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a report on Tuesday, June 17th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $182.64.

Simon Property Group Stock Performance

Shares of SPG stock opened at $174.03 on Thursday. The company’s fifty day simple moving average is $164.11 and its 200-day simple moving average is $164.75. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week 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 company has a market cap of $56.82 billion, a PE ratio of 26.90, a P/E/G ratio of 10.57 and a beta of 1.48.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $2.90 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group’s payout ratio is presently 129.83%.

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.