Daniel Smith Acquires 335 Shares of Simon Property Group (NYSE:SPG) Stock

Simon Property Group, Inc. (NYSE:SPG) Director Daniel Smith acquired 335 shares of Simon Property Group stock in a transaction dated 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 completion of the purchase, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Simon Property Group Trading Down 0.4%

Simon Property Group stock opened at $185.05 on Friday. The firm has a 50-day moving average of $176.41 and a 200-day moving average of $165.35. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. 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 company has a market cap of $60.42 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 11.25 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $2.90 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities analysts expect 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. Stockholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Mizuho dropped their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Piper Sandler upped their target price 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. Scotiabank upped 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 report on Thursday, August 28th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 target price (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $186.46.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the 2nd quarter valued at about $25,000. Park Square Financial Group LLC raised 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 period. Richardson Financial Services Inc. raised 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 period. Silicon Valley Capital Partners bought a new position in Simon Property Group in the 2nd quarter valued at about $30,000. Finally, VSM Wealth Advisory LLC bought a new position in Simon Property Group in the 2nd quarter valued at about $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.