Insider Buying: Simon Property Group (NYSE:SPG) Director Buys $57,175.04 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Gary Rodkin bought 256 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares in the company, valued at $4,693,713.44. This represents a 1.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Simon Property Group Stock Performance

NYSE SPG opened at $225.77 on Friday. The company has a fifty day simple moving average of $209.31 and a 200 day simple moving average of $197.56. Simon Property Group, Inc. has a 12-month low of $159.33 and a 12-month 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 company has a market cap of $73.21 billion, a P/E ratio of 15.69, a PEG ratio of 4.09 and a beta of 1.29.

Simon Property Group (NYSE:SPG) last announced its quarterly 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. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $2.95 EPS. Simon Property Group’s quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. Simon Property Group’s payout ratio is presently 62.54%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPG shares. Scotiabank raised their price target on shares of Simon Property Group from $206.00 to $220.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. UBS Group set a $220.00 price objective on Simon Property Group in a report on Thursday, June 18th. Morgan Stanley increased their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Wolfe Research lowered Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Finally, Citigroup lifted their target price on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $211.47.

Institutional Trading of Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Stance Capital LLC purchased a new position in Simon Property Group during the third quarter worth about $26,000. Wilkerson Advisory Group LLC purchased a new stake in Simon Property Group in the 4th quarter valued at about $29,000. SHP Wealth Management bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $34,000. Dynamic Wealth Strategies LLC boosted its stake in shares of 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 worth $39,000 after buying an additional 139 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Simon Property Group in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.