Insider Buying: Simon Property Group (NYSE:SPG) Director Purchases $34,586.70 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Marta Stewart bought 186 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $34,586.70. Following the completion of the transaction, the director owned 16,308 shares of the company’s stock, valued at $3,032,472.60. This represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Simon Property Group Price Performance

Simon Property Group stock 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 business has a 50-day simple moving average of $176.78 and a 200 day simple moving average of $165.50. 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 stock has a market cap of $60.59 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 11.20 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 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 business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business earned $2.90 earnings per share. The firm’s 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, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis 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%.

Institutional Investors Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Wealth Asset Management LLC raised its position in Simon Property Group by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after purchasing an additional 66 shares during the last quarter. Great Lakes Advisors LLC raised its position in Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 68 shares during the last quarter. Wedmont Private Capital raised its position in Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 68 shares during the last quarter. PFS Partners LLC raised its position in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 68 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in shares of Simon Property Group by 1.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock worth $743,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SPG. JPMorgan Chase & Co. upped their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Truist Financial upped their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Mizuho cut their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a report on Tuesday, June 10th. Barclays began coverage on 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. Finally, Scotiabank boosted their target price on 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. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $186.46.

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.