Simon Property Group (NYSE:SPG) Director Purchases 350 Shares of Stock

by · The Markets Daily

Simon Property Group, Inc. (NYSE:SPG – Get Free Report) Director Daniel Smith bought 350 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was purchased at an average cost of $202.78 per share, with a total value of $70,973.00. Following the completion of the acquisition, the director directly owned 34,830 shares of the company’s stock, valued at approximately $7,062,827.40. The trade was a 1.02% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Simon Property Group Stock Up 0.0%

Shares of NYSE SPG traded up $0.08 during midday trading on Thursday, hitting $200.84. The stock had a trading volume of 1,140,667 shares, compared to its average volume of 1,632,737. The business’s 50 day moving average is $215.62 and its 200-day moving average is $209.36. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. The company has a market cap of $64.98 billion, a P/E ratio of 14.16, a PEG ratio of 3.15 and a beta of 1.28.

Simon Property Group (NYSE:SPG – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business earned $1.70 EPS. Simon Property Group’s revenue was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 13.23 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.5%. Simon Property Group’s dividend payout ratio (DPR) is presently 63.47%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Bank of America upped their price target on Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a report on Monday, June 29th. Jefferies Financial Group upgraded Simon Property Group to a “strong-buy” rating in a report on Friday, June 26th. Barclays decreased their target price on Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a research note on Thursday, July 9th. Finally, Stifel Nicolaus lifted their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $227.64.

Check Out Our Latest Research Report on SPG

Hedge Funds Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC bought a new stake in shares of Simon Property Group in the second quarter worth $27,000. Osbon Capital Management LLC bought a new position in Simon Property Group in the second quarter valued at about $32,000. Fiduciary Financial Advisors bought a new position in Simon Property Group in the second quarter valued at about $34,000. N.E.W. Advisory Services LLC boosted its position in Simon Property Group by 335.0% in the second quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. Finally, WPG Advisers LLC boosted its position in Simon Property Group by 40.3% in the second quarter. WPG Advisers LLC now owns 181 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Company Profile

(Get Free Report)

Simon Property Group, Inc (NYSE: SPG) is a real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.

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