Groupama Asset Managment Has $2.60 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Groupama Asset Managment grew its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 97.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,221 shares of the real estate investment trust's stock after acquiring an additional 7,500 shares during the quarter. Groupama Asset Managment's holdings in Simon Property Group were worth $2,601,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SPG. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC increased its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter worth $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group during the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group during the fourth quarter worth about $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 4.6 %

NYSE:SPG traded down $7.04 on Friday, hitting $146.15. 3,679,910 shares of the company's stock were exchanged, compared to its average volume of 1,466,381. The firm has a 50-day moving average price of $174.03 and a 200-day moving average price of $174.33. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a market cap of $47.68 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Remove Ads

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.75%. Simon Property Group's dividend payout ratio is presently 115.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPG. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price target on the stock. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $180.33.

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.