6,766 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the third quarter, HoldingsChannel reports. The fund acquired 6,766 shares of the real estate investment trust’s stock, valued at approximately $1,144,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $27,000. RFP Financial Group LLC boosted its position in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 160 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC bought a new stake in shares of Simon Property Group during the third quarter worth $42,000. Finally, Eastern Bank bought a new position in Simon Property Group in the third quarter valued at about $42,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $179.64 on Friday. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $58.61 billion, a PE ratio of 23.92, a PEG ratio of 10.33 and a beta of 1.75. The stock’s fifty day simple moving average is $176.65 and its 200 day simple moving average is $163.56.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned $3.20 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts predict that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank upped their target price 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. Truist Financial lifted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.44.

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.