Simon Property Group, Inc. $SPG Shares Bought by Amundi

Key Points

• Amundi increased its Simon Property Group position by 19% in the first quarter, purchasing 317,901 additional shares and bringing its holdings to 1.99 million shares worth approximately $371.3 million. Institutional investors collectively own 93.01% of SPG.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $216.14, below the reported share price of $235.44. Price targets ranged from $194 to $215, although Jefferies upgraded the stock to “strong buy.”
• Simon reported quarterly earnings of $1.48 per share and revenue of $1.76 billion, exceeding analyst expectations, while revenue rose 19.3% year over year. The REIT also raised its quarterly dividend to $2.25 per share, equivalent to a 3.8% annual yield.

Amundi increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,990,741 shares of the real estate investment trust's stock after purchasing an additional 317,901 shares during the quarter. Amundi owned 0.61% of Simon Property Group worth $371,334,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Stance Capital LLC acquired a new position in shares of Simon Property Group during the 3rd quarter worth $26,000. Wilkerson Advisory Group LLC purchased a new position in Simon Property Group during the 4th quarter valued at about $29,000. SHP Wealth Management acquired a new position in Simon Property Group during the fourth quarter worth about $34,000. Dynamic Wealth Strategies LLC raised its position in Simon Property Group by 195.8% during the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 139 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Simon Property Group by 79.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 111 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SPG shares. Stifel Nicolaus increased their price target on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a research report on Tuesday, May 12th. Weiss Ratings raised Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, July 14th. Citigroup upped their target price on Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Jefferies Financial Group upgraded Simon Property Group to a "strong-buy" rating in a report on Friday, June 26th. Finally, Evercore set a $215.00 price target on Simon Property Group in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $216.14.

Simon Property Group Stock Down 0.5%

Shares of SPG opened at $235.44 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $159.70 and a fifty-two week high of $238.50. The company's fifty day moving average is $217.90 and its two-hundred day moving average is $202.78. The firm has a market cap of $76.35 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 3.06 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the prior year, the company earned $2.95 EPS. The firm's revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Analysts forecast that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.8%. Simon Property Group's dividend payout ratio is presently 62.54%.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry C. Glasscock acquired 397 shares of the stock in a transaction on Tuesday, June 30th. The stock was purchased at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director directly owned 45,902 shares in the company, valued at $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel C. Smith acquired 372 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the acquisition, the director directly owned 34,480 shares in the company, valued at $7,699,728.80. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 2,387 shares of company stock valued at $533,056. Corporate insiders own 8.73% of the company's stock.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon's portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.

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