Insider Buying: Simon Property Group (NYSE:SPG) Director Buys $13,180.70 in Stock

Key Points

• Insider buying: Director Randall Lewis purchased 65 Simon Property Group shares for $13,180.70, increasing his stake by 0.93% to 7,083 shares.
• Stock and dividend: SPG traded near $200.84, while its quarterly dividend of $2.25 represents a $9.00 annualized payout and a 4.5% yield.
• Mixed outlook: Simon Property Group exceeded revenue expectations but missed quarterly EPS estimates; analysts maintain a consensus “Hold” rating with an average price target of $227.64.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Randall Lewis bought 65 shares of Simon Property Group stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average cost of $202.78 per share, for a total transaction of $13,180.70. Following the purchase, the director owned 7,083 shares in the company, valued at $1,436,290.74. This represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Simon Property Group Price Performance

Simon Property Group stock traded up $0.08 during mid-day trading on Thursday, hitting $200.84. 1,140,667 shares of the company were exchanged, compared to its average volume of 1,632,737. Simon Property Group, Inc. has a 12-month low of $172.19 and a 12-month high of $238.50. The company has a market capitalization of $64.98 billion, a P/E ratio of 14.16, a PEG ratio of 3.15 and a beta of 1.28. The business's 50 day simple moving average is $215.62 and its two-hundred day simple moving average is $209.36. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05.

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

Simon Property Group Dividend Announcement

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

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently made changes to their positions in SPG. Envestnet Asset Management Inc. boosted its holdings in shares of Simon Property Group by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 337,371 shares of the real estate investment trust's stock valued at $75,453,000 after purchasing an additional 11,947 shares during the last quarter. U S Wealth Group LLC. raised its position in shares of Simon Property Group by 9.8% in the 2nd quarter. U S Wealth Group LLC. now owns 16,406 shares of the real estate investment trust's stock worth $3,669,000 after buying an additional 1,458 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Simon Property Group by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,541 shares of the real estate investment trust's stock worth $55,586,000 after buying an additional 2,902 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Simon Property Group by 20.2% in the second quarter. Sequoia Financial Advisors LLC now owns 11,752 shares of the real estate investment trust's stock valued at $2,628,000 after acquiring an additional 1,974 shares during the last quarter. Finally, IPG Investment Advisors LLC acquired a new position in Simon Property Group in the second quarter valued at $1,903,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several analyst reports. LADENBURG THALM/SH SH raised their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, August 12th. Barclays lowered their target price on shares of Simon Property Group from $215.00 to $208.00 and set an "equal weight" rating for the company in a research note on Monday. Scotiabank dropped their target price on Simon Property Group from $222.00 to $221.00 and set a "sector perform" rating for the company in a research note on Thursday, September 17th. Finally, Wolfe Research downgraded Simon Property Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $227.64.

About Simon Property Group

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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