Insider Buying: Simon Property Group, Inc. (NYSE:SPG) Director Acquires 234 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the acquisition, the director directly owned 19,057 shares in the company, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Simon Property Group Price Performance

Shares of NYSE:SPG traded up $1.07 during midday trading on Wednesday, hitting $165.34. The company had a trading volume of 218,935 shares, compared to its average volume of 1,533,395. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The stock has a market cap of $53.97 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 8.96 and a beta of 1.44. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. The business's 50-day simple moving average is $160.21 and its 200-day simple moving average is $166.62.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.56 earnings per share. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

Analyst Ratings Changes

Several brokerages have issued reports on SPG. Stifel Nicolaus increased their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Piper Sandler dropped their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Barclays initiated coverage on shares of Simon Property Group in a research report on Wednesday. They set an "equal weight" rating and a $170.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $178.50.

Institutional Investors Weigh In On Simon Property Group

A number of institutional investors have recently made changes to their positions in SPG. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group during the fourth quarter worth about $28,000. Richardson Financial Services Inc. increased its stake in Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares during the period. WR Wealth Planners LLC lifted its position in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

About Simon Property Group

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.