Candriam S.C.A. Has $13.76 Million Holdings in Simon Property Group, Inc. $SPG

Key Points

• Candriam S.C.A. has reduced its stake in Simon Property Group by 43.6%, now holding 82,876 shares worth approximately $13.76 million after selling 64,172 shares in the first quarter.
• Analysts generally hold a neutral to positive outlook on Simon Property Group, with five agencies rating it as a Buy and a consensus target price of $182.64.
• Simon Property Group recently increased its quarterly dividend to $2.15 per share, demonstrating a commitment to shareholder returns despite a high dividend payout ratio of 129.83%.

Candriam S.C.A. decreased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 43.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,876 shares of the real estate investment trust's stock after selling 64,172 shares during the quarter. Candriam S.C.A.'s holdings in Simon Property Group were worth $13,764,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings 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 during the last quarter. Golden State Wealth Management LLC lifted its stake 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 in the last quarter. Brighton Jones LLC purchased a new stake in Simon Property Group in the 4th quarter worth about $295,000. J.W. Cole Advisors Inc. purchased a new stake in Simon Property Group in the 1st quarter worth about $895,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Simon Property Group by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock worth $9,415,000 after acquiring an additional 4,589 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 522 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glyn Aeppel bought 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director owned 19,057 shares in the company, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock worth $387,271 over the last 90 days. Company insiders own 8.66% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday. Barclays initiated 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 for the company. Scotiabank increased their price objective on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Finally, Stifel Nicolaus set a $179.00 target price on Simon Property Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Simon Property Group has an average rating of "Hold" and a consensus price target of $183.00.

Simon Property Group Stock Up 1.7%

Shares of NYSE SPG traded up $2.9910 during mid-day trading on Friday, reaching $176.4210. 1,313,711 shares of the company traded hands, compared to its average volume of 1,495,004. 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 cap of $57.60 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 10.65 and a beta of 1.48. The company's fifty day moving average is $164.80 and its two-hundred day moving average is $164.67. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 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 analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, 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. Investors of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a 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 is currently 129.83%.

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.