Glyn Aeppel Purchases 208 Shares of Simon Property Group (NYSE:SPG) Stock

Key Points

• Director Glyn Aeppel purchased 208 shares of Simon Property Group stock at an average price of $185.95 per share, increasing his total ownership to 19,265 shares.
• Simon Property Group recently announced an increase in its quarterly dividend from $2.10 to $2.15 per share, representing an annualized yield of 4.6%.
• The stock experienced a 0.9% decline in trading, with a current share price of $185.91, despite having reported a profit of $3.05 EPS for the last quarter, exceeding analyst estimates.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the acquisition, the director owned 19,265 shares in the company, valued at $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Simon Property Group Stock Down 0.9%

Simon Property Group stock traded down $1.76 during mid-day trading on Wednesday, reaching $185.91. 1,836,383 shares of the company's stock were exchanged, compared to its average volume of 1,664,825. The company has a market cap of $60.70 billion, a P/E ratio of 28.73, a P/E/G ratio of 11.25 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a fifty day moving average of $175.60 and a 200-day moving average of $165.08.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.6%. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Trust Co. of Toledo NA OH purchased a new position in shares of Simon Property Group in the 2nd quarter valued at $25,000. Park Square Financial Group LLC grew its position in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Richardson Financial Services Inc. grew its position in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 111 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in Simon Property Group during the 2nd quarter worth $30,000. Finally, Silicon Valley Capital Partners purchased a new position in Simon Property Group during the 2nd quarter worth $30,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Piper Sandler increased their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Mizuho dropped their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Evercore ISI reissued an "in-line" rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Finally, Stifel Nicolaus downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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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