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

Oddo BHF Asset Management Sas purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 6,766 shares of the real estate investment trust’s stock, valued at approximately $1,144,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group during the second quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $30,000. RFP Financial Group LLC increased its holdings 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 purchasing an additional 160 shares during the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in Simon Property Group during the 3rd quarter worth approximately $42,000. Finally, Eastern Bank acquired a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $179.64 on Friday. The company has a market cap of $58.61 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 10.33 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. 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 company’s fifty day moving average is $176.65 and its two-hundred day moving average is $163.56.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $3.20 earnings per share. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 111.85%.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho boosted their price objective on 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 set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $165.44.

Simon Property Group Company 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.