Marta Stewart Buys 186 Shares of Simon Property Group (NYSE:SPG) Stock

Key Points

• Marta Stewart, Director of Simon Property Group, purchased 186 shares of the company at an average price of $185.95 per share, increasing her position to a total of 16,308 shares valued around $3.03 million.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, up from the previous $2.10, reflecting a dividend yield of 4.6%.
• Analysts have issued new price targets for Simon Property Group, with the average target now set at $186.46 and a mix of ratings suggesting a cautious outlook.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Marta Stewart bought 186 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $34,586.70. Following the completion of the acquisition, the director directly owned 16,308 shares of the company's stock, valued at approximately $3,032,472.60. The trade was a 1.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded down $1.76 on Wednesday, reaching $185.91. The company's stock had a trading volume of 1,836,383 shares, compared to its average volume of 1,664,825. The stock has a market capitalization of $60.70 billion, a P/E ratio of 28.73, a PEG ratio of 11.25 and a beta of 1.50. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The stock's 50-day moving average is $175.60 and its two-hundred day moving average is $165.08. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group's dividend payout ratio is currently 132.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 789 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 509 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock worth $5,358,000 after purchasing an additional 1,750 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Simon Property Group by 16.3% during the 1st quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust's stock worth $34,996,000 after purchasing an additional 29,479 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new position in shares of Simon Property Group during the 2nd quarter worth approximately $283,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. Mizuho cut their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Evercore ISI reissued an "in-line" rating and set a $187.00 price target (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Morgan Stanley increased their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Truist Financial upped their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research report on Monday, August 25th. Finally, Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average target price of $186.46.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.

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