Simon Property Group (NYSE:SPG) Stock: Insider Gary Rodkin Purchases 232 Shares

Key Points

• Director Gary Rodkin purchased 232 Simon Property Group shares at an average price of $202.78, investing approximately $47,045 and increasing his holdings by 1.1% to 21,248 shares.
• SPG traded near $200.84, while its latest quarterly results showed 19.5% year-over-year revenue growth but EPS of $1.49, below the $1.64 analyst consensus.
• The REIT pays a quarterly dividend of $2.25, or $9.00 annually, representing a 4.5% yield; analysts’ consensus rating is “Hold” with an average price target of $227.64.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Gary Rodkin purchased 232 shares of Simon Property Group stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average price of $202.78 per share, with a total value of $47,044.96. Following the transaction, the director owned 21,248 shares in the company, valued at $4,308,669.44. This represents a 1.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Simon Property Group Trading Up 0.0%

NYSE SPG traded up $0.08 on Thursday, hitting $200.84. 1,140,667 shares of the stock were exchanged, compared to its average volume of 1,632,737. The company's 50-day moving average price is $215.62 and its two-hundred day moving average price 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, Inc. has a 52-week low of $172.19 and a 52-week high of $238.50. The company has a market capitalization of $64.98 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 3.15 and a beta of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.15). The business 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%. Simon Property Group's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Research analysts predict that Simon Property Group, Inc. will post 13.23 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed 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 currently 63.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock worth $8,335,255,000 after purchasing an additional 455,543 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Simon Property Group by 2.7% during the 2nd 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 buying an additional 242,709 shares during the last quarter. Capital World Investors grew its stake 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 valued at $1,593,872,000 after buying an additional 226,271 shares in the last quarter. Bank of America Corp DE grew its stake 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 valued at $1,586,089,000 after buying an additional 491,519 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Simon Property Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust's stock worth $859,209,000 after buying an additional 105,524 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SPG. Stifel Nicolaus lifted 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 raised shares of Simon Property Group to a "strong-buy" rating in a research report on Friday, June 26th. Wolfe Research cut shares of Simon Property Group from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 30th. Bank of America boosted their price objective on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Simon Property Group from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.