Simon Property Group, Inc. $SPG Shares Bought by Groupe la Francaise

Groupe la Francaise lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 45,976 shares of the real estate investment trust’s stock after acquiring an additional 3,625 shares during the quarter. Groupe la Francaise’s holdings in Simon Property Group were worth $8,576,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Simon Property Group during the fourth quarter worth $1,112,111,000. Wellington Management Group LLP boosted its position in shares of Simon Property Group by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust’s stock valued at $1,469,748,000 after purchasing an additional 569,772 shares during the period. Bank of America Corp DE boosted its position in shares of Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after purchasing an additional 491,519 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Simon Property Group by 1,329.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 468,497 shares of the real estate investment trust’s stock valued at $86,723,000 after purchasing an additional 435,721 shares during the period. Finally, Bbfit Investments PTE Ltd. purchased a new position in Simon Property Group in the 4th quarter worth about $80,060,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 2.3%

Simon Property Group stock opened at $230.17 on Friday. Simon Property Group, Inc. has a 12 month low of $159.70 and a 12 month high of $238.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The stock has a market cap of $74.64 billion, a P/E ratio of 16.00, a P/E/G ratio of 3.04 and a beta of 1.29. The company’s fifty day simple moving average is $218.40 and its 200-day simple moving average is $203.10.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.Simon Property Group’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a dividend of $2.25 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.9%. Simon Property Group’s dividend payout ratio (DPR) is 62.54%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America upped their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 14th. Jefferies Financial Group upgraded shares of Simon Property Group to a “strong-buy” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $216.14.

Insider Activity at Simon Property Group

In other news, Director Marta R. Stewart purchased 182 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $223.16 per share, for a total transaction of $40,615.12. Following the acquisition, the director directly owned 18,000 shares in the company, valued at $4,016,880. This represents a 1.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock purchased 397 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.38 per share, with a total value of $88,681.86. Following the purchase, the director owned 45,902 shares in the company, valued at $10,253,588.76. This represents a 0.87% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 2,387 shares of company stock worth $533,056. 8.73% of the stock is currently owned by corporate insiders.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.