Insider Buying: Simon Property Group (NYSE:SPG) Director Buys 76 Shares of Stock

Key Points

• Director Peggy Roe of Simon Property Group purchased 76 shares at an average price of $185.95, raising her total holdings to 6,726 shares, valued at approximately $1.25 million.
• Simon Property Group reported a 13.9% year-over-year increase in quarterly revenue, reaching $1.50 billion, and exceeded analyst EPS estimates slightly.
• The company recently increased its quarterly dividend from $2.10 to $2.15 per share, resulting in a dividend yield of 4.6% and a payout ratio of 132.92%.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Peggy Roe bought 76 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $14,132.20. Following the transaction, the director directly owned 6,726 shares in the company, valued at $1,250,699.70. This trade represents a 1.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $1.76 during trading on Wednesday, hitting $185.91. 1,836,383 shares of the stock were exchanged, compared to its average volume of 1,664,825. The company has a fifty day moving average price of $175.60 and a two-hundred day moving average price of $165.08. The company has a market cap of $60.70 billion, a PE ratio of 28.73, a P/E/G ratio of 11.25 and a beta of 1.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. Simon Property Group's dividend payout ratio is presently 132.92%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in shares of 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 worth $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 509 shares during the period. Inspire Investing LLC lifted its stake in shares of Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock worth $5,358,000 after purchasing an additional 1,750 shares during the period. Voya Investment Management LLC lifted its stake in shares of Simon Property Group by 16.3% during the 1st quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust's stock worth $34,996,000 after purchasing an additional 29,479 shares during the period. Finally, MinichMacGregor Wealth Management LLC purchased a new position in shares of Simon Property Group during the 2nd quarter worth $283,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 price target on the stock. Truist Financial upped their target price on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. Barclays started coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. Morgan Stanley upped their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Finally, Scotiabank upped their target price on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $186.46.

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.

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