Larry C. Glasscock Purchases 396 Shares of Simon Property Group, Inc. (NYSE:SPG) Stock

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Larry C. Glasscock acquired 396 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the purchase, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. The trade was a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Simon Property Group Trading Up 0.4%

Simon Property Group stock traded up $0.63 during trading hours on Friday, hitting $166.47. The company had a trading volume of 925,334 shares, compared to its average volume of 1,541,335. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $54.34 billion, a P/E ratio of 26.51, a P/E/G ratio of 9.30 and a beta of 1.43. The company has a 50-day moving average price of $160.66 and a two-hundred day moving average price of $166.50. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results 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. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $3.56 earnings per share. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 5.05%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPG shares. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank lifted their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Barclays initiated coverage on shares of Simon Property Group in a research note on Wednesday. They issued an "equal weight" rating and a $170.00 price objective for the company. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of "Hold" and an average target price of $178.50.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors have recently made changes to their positions in SPG. Farther Finance Advisors LLC increased its position in Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC lifted its holdings in Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after buying an additional 509 shares during the period. Brighton Jones LLC bought a new stake in Simon Property Group during the 4th quarter valued at $295,000. PNC Financial Services Group Inc. increased its holdings in shares of Simon Property Group by 7.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock valued at $62,322,000 after acquiring an additional 25,987 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after purchasing an additional 4,589 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

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.