Insider Buying: Simon Property Group (NYSE:SPG) Director Purchases 480 Shares of Stock

Key Points

• Director Reuben Leibowitz purchased 480 Simon Property Group shares at an average price of $202.78, investing approximately $97,334 and increasing his direct stake to 56,277 shares.
• Simon Property Group reported quarterly revenue of $1.79 billion, up 19.5% year over year, but adjusted earnings of $1.49 per share missed the $1.64 analyst consensus.
• The REIT pays a quarterly dividend of $2.25 per share, equivalent to a 4.5% annualized yield; analysts’ consensus rating is “Hold,” with an average price target of $227.64.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Reuben Leibowitz bought 480 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, with a total value of $97,334.40. Following the completion of the acquisition, the director directly owned 56,277 shares in the company, valued at $11,411,850.06. This represents a 0.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $0.08 on Thursday, hitting $200.84. The company's stock had a trading volume of 1,140,667 shares, compared to its average volume of 1,632,737. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50 day moving average of $215.62 and a 200-day moving average of $209.36. 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 price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 3.15 and a beta of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 EPS 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 analysts' expectations of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 13.23 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, September 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.5%. Simon Property Group's dividend payout ratio (DPR) is 63.47%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus upped their target price 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. Jefferies Financial Group upgraded Simon Property Group to a "strong-buy" rating in a report on Friday, June 26th. Scotiabank dropped their price objective on shares of 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. Wolfe Research lowered shares of Simon Property Group from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 target price on the stock. in a research report on Thursday, July 9th. Two 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. According to MarketBeat, Simon Property Group has an average rating of "Hold" and a consensus target price of $227.64.

Institutional Inflows and Outflows

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

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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