Oddo BHF Asset Management Sas Takes $1.14 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Oddo BHF Asset Management Sas acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,766 shares of the real estate investment trust's stock, valued at approximately $1,144,000.

Other hedge funds have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group during the second quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at $30,000. RFP Financial Group LLC lifted its stake in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 160 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in Simon Property Group during the 3rd quarter valued at about $42,000. Finally, Eastern Bank acquired a new position in Simon Property Group in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company's stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Evercore ISI raised shares of Simon Property Group from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Piper Sandler restated a "neutral" rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Finally, Scotiabank boosted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a "sector perform" rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $165.44.

Simon Property Group Stock Up 1.4 %

Simon Property Group stock traded up $2.40 during midday trading on Friday, reaching $179.60. The company's stock had a trading volume of 1,462,367 shares, compared to its average volume of 1,447,723. The company has a market cap of $58.60 billion, a P/E ratio of 23.91, a P/E/G ratio of 10.33 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The business has a 50-day simple moving average of $176.65 and a 200-day simple moving average of $163.56. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $3.20 EPS. Simon Property Group's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts expect that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.68%. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's payout ratio is 111.85%.

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.