Gary Rodkin Acquires 219 Shares of Simon Property Group (NYSE:SPG) Stock

Key Points

• Gary Rodkin, a director at Simon Property Group, purchased 219 shares at an average cost of $185.95, increasing his holdings to 19,229 shares valued at approximately $3.58 million.
• Simon Property Group recently reported quarterly earnings of $3.05 per share, exceeding expectations, and announced a dividend increase to $2.15 per share, reflecting a 4.6% yield.
• The company's stock has a market cap of $60.70 billion and a 12-month high of $190.13, with a consensus rating of "Hold" among analysts.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Gary Rodkin purchased 219 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This represents a 1.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Simon Property Group Trading Down 0.9%

SPG traded down $1.76 during trading on Wednesday, reaching $185.91. The company had a trading volume of 1,836,383 shares, compared to its average volume of 1,664,825. The firm's 50-day simple moving average is $175.60 and its 200 day simple moving average is $165.08. The company has a market cap of $60.70 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 11.25 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. 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 (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group's revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.6%. 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%.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors have recently made changes to their positions in the company. Legacy Wealth Asset Management LLC lifted its holdings in shares of Simon Property Group by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust's stock valued at $2,213,000 after buying an additional 66 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after buying an additional 68 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock valued at $1,147,000 after buying an additional 68 shares during the last quarter. PFS Partners LLC lifted its holdings in Simon Property Group by 13.6% in the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 68 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in Simon Property Group by 1.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after purchasing an additional 70 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of analyst reports. Scotiabank lifted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Piper Sandler lifted their target price on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Barclays initiated coverage on Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 target price on the stock. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $186.46.

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.

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