Simon Property Group (NYSE:SPG) Director Buys 350 Shares of Company Stock

Key Points

• Director Daniel Smith purchased 350 Simon Property Group shares at an average price of $202.78, investing $70,973 and increasing his direct ownership by 1.02% to 34,830 shares.
• Simon Property Group reported quarterly EPS of $1.49, below the $1.64 consensus estimate, while revenue of $1.79 billion exceeded expectations and rose 19.5% year over year.
• The REIT pays a quarterly dividend of $2.25, or $9.00 annually, yielding approximately 4.5%; analysts maintain a consensus “Hold” rating with an average price target of $227.64.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Daniel Smith acquired 350 shares of the stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of $202.78 per share, with a total value of $70,973.00. Following the completion of the acquisition, the director directly owned 34,830 shares of the company's stock, valued at $7,062,827.40. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Simon Property Group Stock Up 0.0%

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

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results 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 firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate 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 revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 13.23 EPS for the current year.

Simon Property Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have commented on SPG shares. Piper Sandler raised their price objective on Simon Property Group from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. LADENBURG THALM/SH SH upped their target price on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Mizuho increased their price target on shares of Simon Property Group from $211.00 to $226.00 and gave the stock a "neutral" rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $220.00 price target for the company. in a research report on Thursday, July 9th. Finally, Truist Financial boosted their price objective on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $227.64.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Simon Property Group by 1.2% in the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock worth $8,335,255,000 after acquiring an additional 455,543 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Simon Property Group by 2.7% during the second quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust's stock valued at $2,100,146,000 after acquiring an additional 242,709 shares in the last quarter. Capital World Investors raised its position in shares of Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust's stock worth $1,593,872,000 after purchasing an additional 226,271 shares during the last quarter. Bank of America Corp DE raised its position in shares of Simon Property Group by 6.1% in the 1st 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 purchasing an additional 491,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Simon Property Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust's stock worth $859,209,000 after purchasing an additional 105,524 shares during the last quarter. Hedge funds and other institutional investors 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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