Simon Property Group, Inc. (NYSE:SPG) Position Lifted by Groupama Asset Managment

Groupama Asset Managment raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,721 shares of the real estate investment trust’s stock after purchasing an additional 67 shares during the period. Groupama Asset Managment’s holdings in Simon Property Group were worth $1,305,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SPG. Aptus Capital Advisors LLC lifted its stake in Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 61 shares during the last quarter. Inspire Advisors LLC lifted its position in shares of Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after buying an additional 65 shares during the last quarter. Augustine Asset Management Inc. boosted its holdings in shares of Simon Property Group by 3.8% in the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 68 shares during the period. Bleakley Financial Group LLC grew its position in shares of Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 68 shares during the last quarter. Finally, Avestar Capital LLC raised its stake in Simon Property Group by 2.8% during the third quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $182.14 on Tuesday. The company has a market capitalization of $59.43 billion, a P/E ratio of 24.25, a PEG ratio of 10.75 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a 50-day simple moving average of $175.92 and a 200 day simple moving average of $162.93. Simon Property Group, Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $186.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the business earned $3.20 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 109.19%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPG. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $165.44.

Simon Property Group 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.