Insider Buying: Simon Property Group (NYSE:SPG) Director Purchases 195 Shares of Stock

Key Points

• Simon Property Group Director Stefan Selig purchased 195 shares of the company's stock at an average price of $185.95 per share, increasing his total holdings to approximately $5.96 million.
• The company announced a quarterly dividend of $2.15, marking an increase from the previous $2.10 dividend, with an annualized dividend yield of 4.6%.
• Analysts have set new price targets for the stock, with most ratings indicating a consensus of "Hold" and an average price target of $186.46.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Stefan Selig acquired 195 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $36,260.25. Following the acquisition, the director owned 32,076 shares in the company, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Simon Property Group Trading Down 0.9%

NYSE SPG traded down $1.76 on Wednesday, hitting $185.91. The company's stock had a trading volume of 1,836,383 shares, compared to its average volume of 1,664,825. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company's 50-day simple moving average is $175.60 and its 200 day simple moving average is $165.08. The firm has a market cap of $60.70 billion, a P/E ratio of 28.73, a PEG ratio of 11.25 and a beta of 1.50.

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

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a $2.15 dividend. 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%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

Analysts Set New Price Targets

SPG has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Argus reissued a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Morgan Stanley raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective for the company. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.46.

Institutional Trading of Simon Property Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cullen Capital Management LLC increased its holdings in shares of Simon Property Group by 7.3% in the 2nd quarter. Cullen Capital Management LLC now owns 9,896 shares of the real estate investment trust's stock worth $1,591,000 after purchasing an additional 675 shares in the last quarter. CacheTech Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth $560,000. Adams Wealth Management bought a new stake in shares of Simon Property Group in the 2nd quarter worth $560,000. Silicon Valley Capital Partners bought a new stake in shares of Simon Property Group in the 2nd quarter worth $30,000. Finally, Evolution Wealth Management Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth $51,000. Institutional investors 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.

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