Amundi Lowers Stake in Simon Property Group, Inc. $SPG

Key Points

• Amundi has reduced its holdings in Simon Property Group by 7.2%, owning approximately 1.6 million shares valued at $250.4 million after selling 124,687 shares in the first quarter.
• Simon Property Group has announced an increase in its quarterly dividend from $2.10 to $2.15, resulting in a 4.7% dividend yield.
• In its recent quarterly earnings, Simon Property Group reported $3.05 EPS, beating estimates, along with a revenue increase of 13.9% year-over-year to $1.50 billion.

Amundi trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,604,051 shares of the real estate investment trust's stock after selling 124,687 shares during the period. Amundi owned approximately 0.49% of Simon Property Group worth $250,421,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Simon Property Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock worth $7,588,195,000 after purchasing an additional 267,503 shares during the last quarter. Northern Trust Corp boosted its stake in Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock worth $923,236,000 after buying an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock worth $805,853,000 after buying an additional 141,657 shares in the last quarter. Nuveen LLC purchased a new stake in Simon Property Group in the first quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Simon Property Group by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock worth $608,086,000 after buying an additional 23,873 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.2%

Shares of NYSE:SPG traded up $0.37 on Monday, hitting $182.62. 2,338,895 shares of the company traded hands, compared to its average volume of 1,637,155. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a 50 day simple moving average of $169.04 and a 200-day simple moving average of $164.23. The company has a market cap of $59.62 billion, a PE ratio of 28.23, a PEG ratio of 11.04 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data 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. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $2.90 EPS. Simon Property Group's revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $2.15 dividend. This represents a $8.60 annualized dividend and a yield of 4.7%. The ex-dividend date is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 129.83%.

Insider Buying and Selling

In other Simon Property Group news, Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the acquisition, the director owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stefan M. Selig bought 219 shares of the company's stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the transaction, the director directly owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. The trade was a 0.69% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 in the last three months. 8.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research reports. Argus reaffirmed a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Finally, Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $184.92.

Simon Property Group Company 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.