Insider Buying: Simon Property Group (NYSE:SPG) Director Acquires 397 Shares of Stock

Key Points

• Insider buying: Simon Property Group director Larry Glasscock bought 397 shares at $223.38 each, a $88,681.86 transaction that lifted his holdings to 45,902 shares.
• Dividend raised: The company increased its quarterly dividend to $2.25 per share from $2.20, implying an annualized payout of $9.00 and a 4.0% yield.
• Business and analyst backdrop: Simon Property Group recently beat quarterly earnings and revenue estimates, while analysts currently have a consensus Hold rating with a $211.47 target price.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Larry Glasscock purchased 397 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director directly owned 45,902 shares in the company, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Simon Property Group Stock Performance

SPG traded down $1.21 during midday trading on Wednesday, reaching $222.44. The company had a trading volume of 1,297,539 shares, compared to its average volume of 1,767,284. The business has a 50-day moving average of $208.10 and a two-hundred day moving average of $196.77. The company has a market cap of $72.13 billion, a P/E ratio of 15.45, a P/E/G ratio of 4.11 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 1 year low of $159.33 and a 1 year high of $228.57.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the previous year, the company earned $2.95 EPS. Simon Property Group's revenue for the quarter was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date of this dividend was Tuesday, June 9th. Simon Property Group's dividend payout ratio is currently 62.54%.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at approximately $295,000. Marshall Wace LLP increased its position in Simon Property Group by 316.2% in the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust's stock worth $3,181,000 after purchasing an additional 15,033 shares during the last quarter. Jump Financial LLC increased its position in Simon Property Group by 80.1% in the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust's stock worth $2,714,000 after purchasing an additional 7,506 shares during the last quarter. Cerity Partners LLC raised its stake in Simon Property Group by 1.7% during the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust's stock valued at $5,745,000 after purchasing an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust's stock valued at $4,573,000 after purchasing an additional 3,372 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank lifted their target price on Simon Property Group from $206.00 to $220.00 and gave the company a "sector perform" rating in a research note on Thursday, June 18th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. UBS Group set a $220.00 target price on shares of Simon Property Group in a report on Thursday, June 18th. Bank of America raised their target price on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research note on Monday. Finally, Evercore set a $208.00 price target on shares of Simon Property Group in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Hold" and a consensus target price of $211.47.

About Simon Property Group

Simon Property Group, Inc NYSE: SPG is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon's portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.