Simon Property Group (NYSE:SPG) Director Buys $14,132.20 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Peggy Roe acquired 76 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $14,132.20. Following the purchase, the director directly owned 6,726 shares in the company, valued at approximately $1,250,699.70. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Simon Property Group Stock Up 0.3%

Shares of SPG opened at $185.58 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm’s 50 day moving average is $176.78 and its 200-day moving average is $165.50. The stock has a market capitalization of $60.59 billion, a PE ratio of 28.68, a P/E/G ratio of 11.20 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.6%. Simon Property Group’s dividend payout ratio is currently 132.92%.

Analyst Ratings Changes

SPG has been the subject of several analyst reports. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research report on Tuesday, September 2nd. Evercore ISI restated an “in-line” rating and set a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Barclays assumed coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Finally, Truist Financial boosted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $186.46.

Hedge Funds Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $295,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Simon Property Group by 36.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust’s stock valued at $4,074,000 after acquiring an additional 6,293 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 95 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Simon Property Group by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,801 shares of the real estate investment trust’s stock valued at $631,000 after acquiring an additional 162 shares during the period. Finally, NBC Securities Inc. boosted its stake in Simon Property Group by 234,900.0% during the first quarter. NBC Securities Inc. now owns 2,350 shares of the real estate investment trust’s stock worth $390,000 after acquiring an additional 2,349 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

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.