Simon Property Group (NYSE:SPG) Director Acquires 232 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG) Director Gary Rodkin purchased 232 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $202.78 per share, for a total transaction of $47,044.96. Following the purchase, the director owned 21,248 shares in the company, valued at $4,308,669.44. The trade was a 1.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Simon Property Group Stock Up 0.0%

Shares of Simon Property Group stock traded up $0.08 during midday trading on Thursday, reaching $200.84. 1,140,667 shares of the company’s stock traded hands, compared to its average volume of 1,632,737. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50. The company’s 50 day simple moving average is $215.62 and its 200 day simple moving average is $209.36. The company has a market cap of $64.98 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 3.15 and a beta of 1.28.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities analysts expect that Simon Property Group, Inc. will post 13.23 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Wednesday, September 9th. Simon Property Group’s dividend payout ratio is 63.47%.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Simon Property Group by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 337,371 shares of the real estate investment trust’s stock worth $75,453,000 after buying an additional 11,947 shares during the last quarter. U S Wealth Group LLC. boosted its position in shares of Simon Property Group by 9.8% in the second quarter. U S Wealth Group LLC. now owns 16,406 shares of the real estate investment trust’s stock valued at $3,669,000 after acquiring an additional 1,458 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Simon Property Group by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 248,541 shares of the real estate investment trust’s stock worth $55,586,000 after acquiring an additional 2,902 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Simon Property Group by 20.2% in the second quarter. Sequoia Financial Advisors LLC now owns 11,752 shares of the real estate investment trust’s stock worth $2,628,000 after acquiring an additional 1,974 shares during the last quarter. Finally, IPG Investment Advisors LLC bought a new position in Simon Property Group during the second quarter worth $1,903,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. Evercore set a $216.00 price objective on Simon Property Group in a research note on Monday, September 21st. UBS Group upped their target price on Simon Property Group from $199.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Scotiabank lowered their price target on Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Mizuho lifted their price target on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Finally, LADENBURG THALM/SH SH boosted their price objective on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average target price of $227.64.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.