Insider Buying: Simon Property Group, Inc. (NYSE:SPG) Director Acquires 86 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Peggy Fang Roe purchased 86 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $13,698.94. Following the acquisition, the director directly owned 6,650 shares of the company's stock, valued at approximately $1,059,278.50. This represents a 1.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Simon Property Group Price Performance

Shares of SPG traded up $1.59 during midday trading on Wednesday, hitting $165.86. 1,589,390 shares of the company traded hands, compared to its average volume of 1,540,111. The stock has a 50-day moving average of $160.21 and a 200-day moving average of $166.62. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The firm has a market cap of $54.14 billion, a P/E ratio of 26.41, a PEG ratio of 9.16 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business posted $3.56 EPS. Simon Property Group's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPG shares. Scotiabank upped their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Mizuho cut their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. JPMorgan Chase & Co. decreased their target price 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 lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, Barclays started coverage on Simon Property Group in a research note on Wednesday. They set an "equal weight" rating and a $170.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $178.50.

Hedge Funds Weigh In On Simon Property Group

Hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC increased its stake in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after buying an additional 81 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC increased its holdings in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the last quarter. Richardson Financial Services Inc. raised its stake in Simon Property Group by 185.0% in the first 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 in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group during the fourth quarter worth approximately $31,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.