Simon Property Group Target of Unusually High Options Trading (NYSE:SPG)

Simon Property Group, Inc. (NYSE:SPG) was the recipient of unusually large options trading on Monday. Stock investors purchased 82,094 call options on the company. This is an increase of 4,533% compared to the average volume of 1,772 call options.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $179.41 on Wednesday. The company has a market cap of $58.58 billion, a P/E ratio of 27.73, a PEG ratio of 11.05 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group has a one year low of $136.34 and a one year high of $190.13. The business’s 50-day simple moving average is $169.78 and its 200 day simple moving average is $164.33.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate 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 company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts forecast that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is 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 132.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SPG shares. Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 10th. Truist Financial lifted their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Barclays started coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective on the stock. Finally, Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $184.92.

Insider Transactions at Simon Property Group

In other news, Director Stefan M. Selig acquired 219 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $34,884.51. Following the purchase, the director directly owned 31,881 shares of the company’s stock, valued at approximately $5,078,324.49. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,428 shares of company stock worth $387,271 in the last quarter. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Simon Property Group

Several hedge funds have recently modified their holdings of the stock. Brighton Jones LLC purchased a new stake in Simon Property Group during the 4th quarter worth approximately $295,000. CoreCap Advisors LLC increased its holdings in Simon Property Group by 29.2% during the 4th quarter. CoreCap Advisors LLC now owns 906 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 205 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in Simon Property Group by 137.1% during the 4th quarter. EP Wealth Advisors LLC now owns 4,388 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 2,537 shares during the last quarter. Lighthouse Investment Partners LLC increased its holdings in Simon Property Group by 43.8% during the 4th quarter. Lighthouse Investment Partners LLC now owns 115,000 shares of the real estate investment trust’s stock worth $19,804,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Land & Buildings Investment Management LLC increased its holdings in Simon Property Group by 358.6% during the 4th quarter. Land & Buildings Investment Management LLC now owns 134,376 shares of the real estate investment trust’s stock worth $23,141,000 after purchasing an additional 105,076 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.