Simon Property Group (NYSE:SPG) Director Peggy Roe Acquires 76 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Peggy Roe acquired 76 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $14,132.20. Following the completion of the purchase, the director directly owned 6,726 shares of the company’s stock, valued at $1,250,699.70. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Simon Property Group Stock Down 0.9%

NYSE SPG opened at $185.91 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a fifty day moving average of $176.01 and a two-hundred day moving average of $165.23. The firm has a market capitalization of $60.70 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 11.36 and a beta of 1.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s payout ratio is presently 132.92%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPG shares. Scotiabank boosted their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Mizuho lowered their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, June 10th. Truist Financial boosted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Stifel Nicolaus downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a report on Tuesday, September 2nd. Finally, Evercore ISI restated an “in-line” rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $186.46.

Institutional Trading of Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Simon Property Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock worth $7,369,128,000 after purchasing an additional 149,314 shares in the last quarter. State Street Corp raised its holdings in Simon Property Group by 1.1% in the second quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock worth $3,448,703,000 after purchasing an additional 228,819 shares in the last quarter. Geode Capital Management LLC raised its holdings in Simon Property Group by 1.3% in the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after purchasing an additional 127,636 shares in the last quarter. Norges Bank bought a new position in Simon Property Group in the second quarter worth about $1,051,262,000. Finally, JPMorgan Chase & Co. raised its holdings in Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

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.