Caisse DE Depot ET Placement DU Quebec Sells 39,200 Shares of Simon Property Group, Inc. $SPG

Key Points

• The Caisse DE Depot ET Placement DU Quebec reduced its stake in Simon Property Group by 11.8%, selling 39,200 shares, leaving them with 292,300 shares worth approximately $48.5 million.
• Simon Property Group announced a quarterly dividend increase to $2.15 per share, up from $2.10, reflecting an annualized rate of $8.60 and a yield of 4.9%.
• Analyst ratings for Simon Property Group are mixed, with five "Buy" ratings and six "Hold" ratings, while the consensus price target is set at $184.00.

Caisse DE Depot ET Placement DU Quebec cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,300 shares of the real estate investment trust's stock after selling 39,200 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.09% of Simon Property Group worth $48,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC increased its position 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 buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its position 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 buying an additional 111 shares during the period. Continuum Advisory LLC increased its position 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 buying an additional 156 shares during the period. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its holdings 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 worth $36,000 after purchasing an additional 95 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $176.6810 on Tuesday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The stock has a 50 day moving average price of $165.18 and a two-hundred day moving average price of $164.54. The company has a market capitalization of $57.68 billion, a P/E ratio of 27.31, a PEG ratio of 10.67 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. The business's revenue 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. Analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group's dividend payout ratio is presently 129.83%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Truist Financial upped their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Piper Sandler cut their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Scotiabank upped their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $184.00.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel bought 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the acquisition, the director directly owned 19,057 shares in the company, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary M. Rodkin bought 246 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $39,185.34. Following the acquisition, the director owned 19,010 shares of the company's stock, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock valued at $387,271 over the last 90 days. Company insiders own 8.60% of the company's stock.

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.

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