Federation des caisses Desjardins du Quebec Has $4.21 Million Holdings in Simon Property Group, Inc. $SPG

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Simon Property Group by 81.2% during the first quarter, acquiring an additional 11,358 shares to own a total of 25,354 shares valued at approximately $4.2 million.
• The company recently raised its quarterly dividend from $2.10 to $2.15, reflecting an annualized yield of 4.7% and a dividend payout ratio of 129.83%.
• Analyst ratings for Simon Property Group indicate a mix, with four analysts recommending a "Buy" and seven rating it as a "Hold," supporting an average price target of $184.91.

Federation des caisses Desjardins du Quebec lifted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 81.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,354 shares of the real estate investment trust's stock after buying an additional 11,358 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Simon Property Group were worth $4,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. Park Square Financial Group LLC raised its stake in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after buying an additional 81 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after buying an additional 111 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after buying an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after buying an additional 95 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 0.2%

Shares of SPG stock traded up $0.37 on Monday, reaching $182.62. 2,338,895 shares of the company's stock traded hands, compared to its average volume of 1,637,155. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-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 company has a market capitalization of $59.62 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 11.04 and a beta of 1.50. The business's 50 day moving average price is $169.04 and its two-hundred day moving average price is $164.23.

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 EPS for the quarter, beating analysts' consensus estimates 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 for 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 quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio is presently 129.83%.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin bought 246 shares of the stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel C. Smith bought 378 shares of the stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $60,211.62. Following the purchase, the director directly owned 31,998 shares of the company's stock, valued at approximately $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,428 shares of company stock valued at $387,271. Corporate insiders own 8.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPG shares. Truist Financial lifted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday, August 25th. Argus restated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. Finally, LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.