AG2R LA Mondiale Gestion D Actifs Purchases Shares of 13,166 Simon Property Group, Inc. $SPG

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 13,166 shares of Simon Property Group, valued at approximately $2.15 million, reflecting increasing institutional interest in the real estate investment trust.
• Simon Property Group has recently disclosed a quarterly dividend increase to $2.15, up from $2.10, representing an annual yield of 4.7%.
• In its latest earnings report, Simon Property Group met analysts' expectations with EPS of $3.05, alongside a revenue increase of 13.9% year-over-year.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,166 shares of the real estate investment trust's stock, valued at approximately $2,147,000.

Several other large investors also recently made changes to their positions in the company. Park Square Financial Group LLC increased its stake in shares of Simon Property Group by 108.0% during 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 acquiring an additional 81 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 111 shares during the period. Continuum Advisory LLC increased its stake in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 156 shares during the period. AdvisorNet Financial Inc increased its stake in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 95 shares during the period. Finally, WPG Advisers LLC acquired a new position in shares of Simon Property Group during the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel acquired 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel C. Smith acquired 378 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $60,211.62. Following the purchase, the director directly owned 31,998 shares in the company, valued at approximately $5,096,961.42. This trade represents a 1.20% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 2,428 shares of company stock worth $387,271. 8.66% of the stock is currently owned by insiders.

Simon Property Group Trading Down 0.7%

Shares of NYSE:SPG opened at $182.68 on Friday. The stock has a market capitalization of $59.64 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 11.14 and a beta of 1.50. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50 day moving average price of $170.73 and a 200 day moving average price of $164.42.

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

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is 132.92%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays assumed coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective on the stock. Scotiabank raised their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Mizuho lowered their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. JPMorgan Chase & Co. raised their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, Argus reiterated a "buy" rating and set a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $184.54.

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.

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