Simon Property Group (NYSE:SPG) Director Purchases $62,293.25 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Daniel Smith bought 335 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $62,293.25. Following the purchase, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Simon Property Group Stock Performance

Shares of SPG opened at $185.58 on Friday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a market cap of $60.59 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 11.20 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a fifty day moving average of $176.78 and a 200-day moving average of $165.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. The company’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. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Institutional Investors Weigh In On Simon Property Group

Institutional investors have recently bought and sold shares of the stock. Trust Co. of Toledo NA OH acquired a new stake in Simon Property Group in the 2nd quarter valued at about $25,000. Park Square Financial Group LLC lifted its holdings 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 during the last quarter. Richardson Financial Services Inc. lifted its holdings 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 during the last quarter. Silicon Valley Capital Partners acquired a new stake in Simon Property Group in the 2nd quarter valued at about $30,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Simon Property Group in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Piper Sandler boosted their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Finally, Scotiabank upped their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.46.

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.