Groupama Asset Managment Sells 1,437 Shares of Simon Property Group, Inc. $SPG

Key Points

• Groupama Asset Management decreased its stake in Simon Property Group by 9.4%, selling 1,437 shares to hold a total of 13,784 shares valued at approximately $2.26 million.
• Simon Property Group reported a quarterly EPS of $3.05, surpassing analysts' expectations, with revenue of $1.50 billion, a year-over-year increase of 13.9%.
• The company's quarterly dividend increased from $2.10 to $2.15 per share, resulting in an annualized dividend yield of 4.9%.

Groupama Asset Managment lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,784 shares of the real estate investment trust's stock after selling 1,437 shares during the quarter. Groupama Asset Managment's holdings in Simon Property Group were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after buying an additional 789 shares during the period. Golden State Wealth Management LLC raised its holdings in Simon Property Group by 193.5% in the 1st 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 period. Brighton Jones LLC acquired a new position in Simon Property Group during the 4th quarter worth $295,000. J.W. Cole Advisors Inc. bought a new stake in Simon Property Group during the first quarter valued at about $895,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Simon Property Group by 8.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after acquiring an additional 4,589 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $174.7640 on Wednesday. The stock has a 50 day moving average of $163.82 and a two-hundred day moving average of $164.69. The company has a current ratio of 1.23, a quick 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 company has a market capitalization of $57.06 billion, a P/E ratio of 27.01, a P/E/G ratio of 11.57 and a beta of 1.48.

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. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm 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 $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 129.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPG. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective on the stock. Mizuho dropped their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Piper Sandler cut their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, Scotiabank boosted 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 research report on Tuesday, June 17th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $182.64.

Insider Buying and Selling

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was bought at an average cost 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 approximately $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reuben S. Leibowitz bought 522 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the purchase, the director owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,428 shares of company stock worth $387,271. 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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