Financiere des Professionnels Fonds d investissement inc. Purchases New Position 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) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,806 shares of the real estate investment trust's stock, valued at approximately $933,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC increased its stake in shares of Simon Property Group by 108.0% in 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 purchasing an additional 81 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Continuum Advisory LLC grew its stake in 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 valued at $32,000 after buying an additional 156 shares during the last quarter. AdvisorNet Financial Inc grew its position in 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 purchasing an additional 95 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in Simon Property Group in the 1st quarter worth $47,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPG shares. Scotiabank boosted their target price on shares of 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. Argus reaffirmed a "buy" rating and set a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Piper Sandler increased their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday. Truist Financial increased their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. Finally, Morgan Stanley increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $186.46.

Simon Property Group Stock Down 0.6%

SPG traded down $1.16 during mid-day trading on Thursday, reaching $180.40. 1,898,561 shares of the stock were exchanged, compared to its average volume of 1,662,743. The company has a 50 day moving average price of $172.19 and a two-hundred day moving average price of $164.33. 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 stock has a market capitalization of $58.90 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 10.99 and a beta of 1.50. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

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, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $2.90 earnings per share. The company's 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. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's payout ratio is currently 132.92%.

Insider Activity

In related news, Director Gary M. Rodkin purchased 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed 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. In the last 90 days, insiders have bought 2,428 shares of company stock valued at $387,271. Corporate insiders own 8.66% of the company's stock.

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.