Candriam S.C.A. Cuts Holdings in Simon Property Group, Inc. $SPG

Candriam S.C.A. trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 66.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,846 shares of the real estate investment trust’s stock after selling 55,030 shares during the period. Candriam S.C.A.’s holdings in Simon Property Group were worth $4,477,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC bought a new position in shares of Simon Property Group in the fourth quarter valued at approximately $295,000. CWM LLC boosted its position in Simon Property Group by 7.7% in the first quarter. CWM LLC now owns 10,453 shares of the real estate investment trust’s stock worth $1,736,000 after purchasing an additional 748 shares during the last quarter. Private Advisor Group LLC grew its stake in Simon Property Group by 0.5% in the 1st quarter. Private Advisor Group LLC now owns 32,261 shares of the real estate investment trust’s stock valued at $5,358,000 after purchasing an additional 169 shares during the period. AMG National Trust Bank increased its position in shares of Simon Property Group by 25.7% during the 1st quarter. AMG National Trust Bank now owns 2,320 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 475 shares during the last quarter. Finally, Csenge Advisory Group purchased a new stake in shares of Simon Property Group during the 1st quarter valued at $221,000. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glyn Aeppel bought 208 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 2,121 shares of company stock worth $394,400. Company insiders own 8.66% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $182.66 on Friday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The stock’s 50-day simple moving average is $180.74 and its 200 day simple moving average is $170.58. 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 $59.63 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is 128.09%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPG. Scotiabank boosted their target price on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Barclays increased their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Evercore ISI lifted their price objective on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.85.

Simon Property Group 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.