Groupe la Francaise Purchases 3,784 Shares of Simon Property Group, Inc. $SPG

Key Points

• Groupe la Francaise increased its stake in Simon Property Group, holding 34,000 shares worth approximately $5.64 million, reflecting a 12.5% boost in their investment during the first quarter.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, up from the previous $2.10, with a current dividend yield of 4.9%.
• Simon Property Group reported earnings of $3.05 per share for the last quarter, surpassing analyst expectations and showing a 13.9% year-over-year revenue increase.

Groupe la Francaise increased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,000 shares of the real estate investment trust's stock after buying an additional 3,784 shares during the quarter. Groupe la Francaise's holdings in Simon Property Group were worth $5,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in 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 buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 111 shares during the period. Continuum Advisory LLC increased its stake in shares of Simon Property Group by 421.6% in the first 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 period. Colonial Trust Co SC increased its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares during the period. Finally, AdvisorNet Financial Inc increased its position in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Analysts Set New Price Targets

SPG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday. 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. Stifel Nicolaus set a $179.00 target price on Simon Property Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Truist Financial increased 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. Finally, Mizuho cut their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average target price of $184.00.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel bought 234 shares of the stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the purchase, the director directly owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stefan M. Selig bought 219 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the purchase, the director directly owned 31,881 shares in the company, valued at approximately $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,428 shares of company stock worth $387,271. 8.60% of the stock is owned by company insiders.

Simon Property Group Stock Up 0.4%

SPG traded up $0.68 during mid-day trading on Tuesday, reaching $177.09. 2,020,109 shares of the stock were exchanged, compared to its average volume of 1,507,866. 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 $57.82 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 10.66 and a beta of 1.48. The company has a 50 day moving average price of $165.58 and a two-hundred day moving average price of $164.63. 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 earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The company 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%.The business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 EPS. 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 firm also recently announced 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 4.9%. 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 presently 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.