Simon Property Group (NYSE:SPG) Director Purchases $67,518.00 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Larry Glasscock bought 363 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, with a total value of $67,518.00. Following the purchase, the director owned 43,899 shares of the company’s stock, valued at $8,165,214. This represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Simon Property Group Trading Up 0.2%

SPG stock traded up $0.41 during midday 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 stock has a market cap of $60.19 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 8.78 and a beta of 1.37. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock’s 50 day moving average price is $182.90 and its 200 day moving average price is $176.36.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion for 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last 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, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a $2.20 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.8%. Simon Property Group’s payout ratio is currently 128.09%.

Analyst Ratings Changes

SPG has been the topic of several research reports. Morgan Stanley raised their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Stifel Nicolaus increased their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Scotiabank boosted their target price on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Finally, Truist Financial upped their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $189.83.

Key Simon Property Group News

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 Trading of Simon Property Group

A number of hedge funds have recently bought and sold shares of the business. Stance Capital LLC purchased a new stake in Simon Property Group in the third quarter valued at $26,000. Trust Co. of Toledo NA OH purchased a new position in shares of Simon Property Group during the second quarter worth approximately $25,000. Silicon Valley Capital Partners acquired a new position in shares of Simon Property Group in the 2nd quarter valued at $30,000. VSM Wealth Advisory LLC acquired a new position in shares of Simon Property Group in the 2nd quarter valued at $30,000. Finally, Atlantic Union Bankshares Corp raised its position in Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 123 shares during 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.