Insider Buying: Simon Property Group (NYSE:SPG) Director Buys $40,615.12 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Marta Stewart acquired 182 shares of Simon Property Group stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $223.16 per share, with a total value of $40,615.12. Following the completion of the purchase, the director owned 18,000 shares in the company, valued at $4,016,880. The trade was a 1.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Simon Property Group Price Performance

SPG traded down $1.21 on Wednesday, hitting $222.44. 1,297,539 shares of the company’s stock were exchanged, compared to its average volume of 1,767,284. Simon Property Group, Inc. has a fifty-two week low of $159.33 and a fifty-two week high of $228.57. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The firm has a 50-day moving average price of $208.10 and a 200-day moving average price of $196.77. The stock has a market cap of $72.13 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 4.11 and a beta of 1.31.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Tuesday, June 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is currently 62.54%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Stance Capital LLC purchased a new stake in Simon Property Group in the third quarter valued at $26,000. Wilkerson Advisory Group LLC purchased a new position in shares of Simon Property Group during the 4th quarter worth $29,000. SHP Wealth Management acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $34,000. Dynamic Wealth Strategies LLC raised its holdings in Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 139 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in Simon Property Group in the 4th quarter valued at about $42,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SPG shares. Stifel Nicolaus boosted their target price on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Morgan Stanley lifted their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. Evercore set a $208.00 target price on Simon Property Group in a report on Monday, June 8th. Bank of America raised their target price on Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial lifted their price target on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $211.47.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.