Insider Buying: Simon Property Group (NYSE:SPG) Director Purchases 192 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG) Director Marta Stewart purchased 192 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $35,712.00. Following the completion of the transaction, the director directly owned 16,500 shares in the company, valued at $3,069,000. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Simon Property Group Trading Up 0.2%

NYSE:SPG traded up $0.41 during mid-day trading on Monday, hitting $184.38. The company had a trading volume of 581,441 shares, compared to its average volume of 772,877. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm has a market cap of $60.19 billion, a P/E ratio of 26.84, a P/E/G ratio of 8.78 and a beta of 1.37. The business’s fifty day moving average is $182.90 and its two-hundred day moving average is $176.36.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, December 10th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent analyst reports. Barclays increased their price target on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Truist Financial increased their target price on Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Citigroup lifted their price target on shares of Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Morgan Stanley upped their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $189.83.

Simon Property Group News Summary

Here are the key news stories impacting Simon Property Group this week:

• Positive Sentiment: Multiple directors increased their holdings (Glyn Aeppel, Larry C. Glasscock, Nina P. Jones, Reuben S. Leibowitz, Randall J. Lewis, Gary M. Rodkin, Peggy Roe, Stefan M. Selig, Daniel C. Smith, Marta R. Stewart). Purchases ranged from 35 to 480 shares apiece at an average price of $186, modest in size but broad across the board — a supportive insider signal. Read More.
• Neutral Sentiment: The dollar amounts are small relative to SPG’s $60B market cap and don’t change ownership control; this makes the purchases more of a confidence signal than a material financial commitment. Read More.

Institutional Investors Weigh In On Simon Property Group

Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group during the second quarter worth approximately $25,000. Stance Capital LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. Finally, Bell Investment Advisors Inc boosted its position in shares of Simon Property Group by 205.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

About Simon Property Group

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.