Simon Property Group, Inc. (NYSE:SPG) Director Buys $34,884.51 in Stock

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Stefan M. Selig acquired 219 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the acquisition, the director owned 31,881 shares of the company's stock, valued at $5,078,324.49. This represents a 0.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Simon Property Group Price Performance

Shares of SPG traded up $1.59 during trading hours on Wednesday, reaching $165.86. 1,589,390 shares of the company traded hands, compared to its average volume of 1,540,111. The stock has a market capitalization of $54.14 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 9.16 and a beta of 1.43. The stock has a fifty day simple moving average of $160.21 and a 200 day simple moving average of $166.62. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last released its 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. The company had revenue of $1.47 billion for 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%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.56 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Mizuho decreased 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 report on Tuesday, June 10th. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Piper Sandler decreased their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Barclays initiated coverage on shares of Simon Property Group in a report on Wednesday. They set an "equal weight" rating and a $170.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Simon Property Group has an average rating of "Hold" and a consensus price target of $178.50.

Hedge Funds Weigh In On Simon Property Group

Institutional investors have recently modified their holdings of the company. Pitcairn Co. raised its holdings in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after purchasing an additional 55 shares during the period. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 57 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Simon Property Group by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after purchasing an additional 60 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its position in Simon Property Group by 1.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust's stock valued at $864,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

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.