Simon Property Group, Inc. $SPG Stake Lessened by Candriam S.C.A.

Candriam S.C.A. lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 43.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,876 shares of the real estate investment trust’s stock after selling 64,172 shares during the period. Candriam S.C.A.’s holdings in Simon Property Group were worth $13,764,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SPG. Park Square Financial Group LLC lifted its holdings in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its stake in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPG. Stifel Nicolaus set a $179.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Barclays began coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Piper Sandler dropped 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 research note on Friday, May 23rd. Finally, Scotiabank upped their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 17th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $182.64.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $37,273.86. Following the completion of the transaction, the director owned 19,057 shares in the company, valued at $3,035,589.53. This trade represents a 1.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary M. Rodkin purchased 246 shares of the stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares of the company’s stock, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 2,428 shares of company stock valued at $387,271. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Trading Down 0.5%

Simon Property Group stock opened at $174.03 on Thursday. 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 company has a market capitalization of $56.82 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 10.57 and a beta of 1.48. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company’s fifty day moving average price is $164.11 and its two-hundred day moving average price is $164.75.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is currently 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.