Marta Stewart Purchases 186 Shares of Simon Property Group (NYSE:SPG) Stock

Simon Property Group, Inc. (NYSE:SPG) Director Marta Stewart bought 186 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $34,586.70. Following the transaction, the director directly owned 16,308 shares in the company, valued at approximately $3,032,472.60. This represents a 1.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Simon Property Group Stock Up 0.3%

Shares of NYSE:SPG opened at $185.58 on Friday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The firm has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 11.20 and a beta of 1.50. The stock has a 50 day moving average price of $176.78 and a 200-day moving average price of $165.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Morgan Stanley upped their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Truist Financial upped their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Finally, Piper Sandler increased their target price on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $186.46.

Institutional Trading of Simon Property Group

Institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Toledo NA OH bought a new position in shares of Simon Property Group during the 2nd quarter valued at $25,000. Park Square Financial Group LLC lifted its holdings in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the period. Silicon Valley Capital Partners bought a new position in shares of Simon Property Group during the 2nd quarter valued at $30,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Simon Property Group during the 2nd quarter valued at $30,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.