Caisse DE Depot ET Placement DU Quebec Buys 489,519 Shares of Simon Property Group, Inc. (NYSE:SPG)

Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 295.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 655,300 shares of the real estate investment trust’s stock after purchasing an additional 489,519 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.20% of Simon Property Group worth $110,759,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group during the second quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the third quarter worth $30,000. Pathway Financial Advisers LLC bought a new position in shares of Simon Property Group in the first quarter valued at about $29,000. Finally, RFP Financial Group LLC lifted its position 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 buying an additional 160 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction on 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 acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at $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 this link. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Mizuho boosted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank increased their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Piper Sandler reaffirmed 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. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

NYSE:SPG opened at $183.71 on Friday. The stock has a market capitalization of $59.94 billion, a PE ratio of 24.46, a P/E/G ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $122.50 and a 1-year high of $186.00. The firm has a fifty day simple moving average of $174.30 and a 200 day simple moving average of $161.30. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.20 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.78 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s dividend payout ratio is currently 109.19%.

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.