Insider Buying: Simon Property Group (NYSE:SPG) Director Buys $83,071.32 in Stock

Key Points

• Director buying: Simon Property Group director Daniel Smith bought 372 shares at $223.31 each, spending $83,071.32. After the purchase, he owned 34,480 shares, worth about $7.7 million.
• Dividend raised: The REIT recently increased its quarterly dividend to $2.25 from $2.20. That works out to an annualized dividend of $9.00 per share and a yield of about 4.0%.
• Mixed but solid outlook: Simon Property Group beat quarterly EPS and revenue estimates, and analysts have nudged price targets higher, but the stock’s consensus rating remains Hold with an average target of $211.47.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Daniel Smith purchased 372 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $223.31 per share, with a total value of $83,071.32. Following the completion of the acquisition, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. The trade was a 1.09% increase in their position. 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 trading hours on Wednesday, hitting $222.44. 1,297,539 shares of the stock were exchanged, compared to its average volume of 1,767,284. The stock has a 50-day simple moving average of $208.10 and a 200-day simple moving average of $196.77. Simon Property Group, Inc. has a 12 month low of $159.33 and a 12 month high of $228.57. The stock has a market cap of $72.13 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 4.11 and a beta of 1.31. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The firm's revenue 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. Analysts anticipate that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a $2.25 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.0%. Simon Property Group's dividend payout ratio (DPR) is presently 62.54%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Stance Capital LLC bought a new stake in shares of Simon Property Group during the third quarter valued at approximately $26,000. Wilkerson Advisory Group LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $29,000. SHP Wealth Management bought a new position in Simon Property Group in the 4th quarter worth approximately $34,000. Dynamic Wealth Strategies LLC increased its position in Simon Property Group by 195.8% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 139 shares during the period. Finally, Tompkins Financial Corp bought a new stake in Simon Property Group during the 4th quarter valued at $42,000. Institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SPG shares. Citigroup increased their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Truist Financial lifted their target price on Simon Property Group from $196.00 to $215.00 and gave the company a "hold" rating in a research note on Tuesday, June 23rd. Barclays lifted their target price on Simon Property Group from $212.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, June 25th. Bank of America increased their price target on Simon Property Group from $225.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Morgan Stanley raised their price target on Simon Property Group from $205.00 to $207.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.

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