Insider Buying: Simon Property Group (NYSE:SPG) Director Acquires 88 Shares of Company Stock

Key Points

• Director Peggy Roe bought 88 Simon Property Group shares at an average price of $202.78, spending $17,844.64 and increasing her direct ownership to 8,135 shares.
• Simon Property Group reported quarterly revenue of $1.79 billion, up 19.5% year over year, but earnings of $1.49 per share missed the $1.64 analyst consensus estimate.
• The REIT pays a quarterly dividend of $2.25, equivalent to $9.00 annually and a 4.5% yield; analysts maintain a consensus “Hold” rating with a $227.64 price target.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Peggy Roe acquired 88 shares of the company's stock in a transaction on Wednesday, September 30th. The shares were acquired at an average price of $202.78 per share, for a total transaction of $17,844.64. Following the completion of the acquisition, the director directly owned 8,135 shares in the company, valued at $1,649,615.30. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Simon Property Group Stock Up 0.0%

Shares of Simon Property Group stock traded up $0.08 on Thursday, hitting $200.84. 1,140,667 shares of the company's stock traded hands, compared to its average volume of 1,632,737. The stock has a market cap of $64.98 billion, a P/E ratio of 14.16, a PEG ratio of 3.15 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. The firm's 50-day moving average is $215.62 and its 200 day moving average is $209.36. Simon Property Group, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.64 by ($0.15). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 13.23 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.5%. Simon Property Group's payout ratio is presently 63.47%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Simon Property Group by 13,579.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust's stock valued at $806,167,000 after buying an additional 3,578,240 shares during the period. Legal & General Group Plc acquired a new stake in Simon Property Group during the second quarter worth about $783,974,000. Canada Pension Plan Investment Board acquired a new stake in Simon Property Group during the second quarter worth about $489,647,000. Caisse de depot et placement du Quebec bought a new position in Simon Property Group in the second quarter worth about $143,948,000. Finally, Bank of America Corp DE lifted its holdings in Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock worth $1,586,089,000 after acquiring an additional 491,519 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Citigroup boosted their price objective on Simon Property Group from $205.00 to $230.00 and gave the company a "neutral" rating in a report on Monday, August 17th. Stifel Nicolaus upped their price objective on Simon Property Group from $194.00 to $209.00 and gave the company a "hold" rating in a research note on Tuesday, August 11th. Scotiabank reduced their target price on Simon Property Group from $222.00 to $221.00 and set a "sector perform" rating on the stock in a report on Thursday, September 17th. Finally, Truist Financial lifted their target price on Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $227.64.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.

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