Simon Property Group (NYSE:SPG) Director Reuben Leibowitz Purchases 464 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Reuben Leibowitz purchased 464 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $86,280.80. Following the acquisition, the director owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $185.58 on Friday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap 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 firm has a 50 day simple moving average of $176.78 and a 200 day simple moving average of $165.50. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $2.90 earnings per share. Simon Property Group’s revenue for the quarter 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. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPG shares. Mizuho reduced their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 10th. Morgan Stanley raised their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research note on Tuesday, September 2nd. Finally, Barclays started coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $186.46.

Institutional Investors Weigh In On Simon Property Group

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