Financiere des Professionnels Fonds d investissement inc. Makes New Investment in Simon Property Group, Inc. $SPG

Key Points

• Financiere des Professionnels Fonds d'investissement has acquired 5,806 shares of Simon Property Group, Inc. valued at approximately $933,000 in the second quarter, according to a recent SEC filing.
• Simon Property Group recently declared a quarterly dividend increase to $2.15 per share, up from $2.10, reflecting a dividend yield of 4.7% and a payout ratio of 132.92%.
• The company's stock received mixed ratings from analysts, with four recommending a Buy and nine suggesting a Hold, alongside an average price target of $185.69.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,806 shares of the real estate investment trust's stock, valued at approximately $933,000.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after purchasing an additional 789 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 509 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Simon Property Group by 5.7% during the first quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock valued at $5,358,000 after purchasing an additional 1,750 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Simon Property Group during the fourth quarter valued at about $295,000. Finally, Voya Investment Management LLC boosted its stake in shares of Simon Property Group by 16.3% during the first quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust's stock valued at $34,996,000 after purchasing an additional 29,479 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent research reports. Mizuho cut their price target on 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. Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a research note on Tuesday, September 2nd. Scotiabank lifted their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Barclays started coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $186.46.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry C. Glasscock bought 396 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. The trade was a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith acquired 378 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $60,211.62. Following the completion of the transaction, the director directly owned 31,998 shares in the company, valued at approximately $5,096,961.42. The trade was a 1.20% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $0.70 during midday trading on Friday, reaching $180.79. 7,083,286 shares of the company traded hands, compared to its average volume of 1,717,126. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a market capitalization of $59.03 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. The firm's fifty day moving average price is $172.57 and its two-hundred day moving average price is $164.18.

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 earnings per share (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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $2.90 EPS. The firm's revenue for the quarter 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 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 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. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

About Simon Property Group

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.