Credit Agricole S A Acquires 6,340 Shares of Simon Property Group, Inc. $SPG

Key Points

• Credit Agricole S A increased its stake in Simon Property Group by 7.7%, owning 89,171 shares worth approximately $14.81 million as of its latest SEC filing.
• Simon Property Group's stock has seen various target price revisions by major analysts, with a current average target of $182.64 and a rating of "Hold."
• The company recently announced a dividend increase to $2.15 per share from $2.10, resulting in an annualized dividend yield of 4.9%.

Credit Agricole S A increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,171 shares of the real estate investment trust's stock after purchasing an additional 6,340 shares during the quarter. Credit Agricole S A's holdings in Simon Property Group were worth $14,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after acquiring an additional 789 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after acquiring an additional 509 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $295,000. J.W. Cole Advisors Inc. bought a new position in shares of Simon Property Group in the first quarter worth about $895,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock worth $9,415,000 after acquiring an additional 4,589 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. LADENBURG THALM/SH SH began 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 for the company. Mizuho dropped their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Scotiabank increased their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Piper Sandler dropped their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $183.00.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction on Monday, June 30th. The shares were purchased 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 approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reuben S. Leibowitz purchased 522 shares of the business's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director directly owned 58,195 shares in the company, valued at approximately $9,269,881.55. This represents a 0.91% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,428 shares of company stock worth $387,271. Company insiders own 8.66% of the company's stock.

Simon Property Group Trading Up 1.7%

Shares of Simon Property Group stock traded up $2.9910 on Friday, hitting $176.4210. The stock had a trading volume of 1,313,711 shares, compared to its average volume of 1,495,004. The stock has a 50 day moving average of $164.80 and a 200 day moving average of $164.67. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month 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 firm has a market capitalization of $57.60 billion, a P/E ratio of 27.27, a PEG ratio of 10.65 and a beta of 1.48.

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

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. 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 (DPR) is currently 129.83%.

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.