Simon Property Group, Inc. (NYSE:SPG) Director Gary M. Rodkin Acquires 246 Shares

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Gary M. Rodkin bought 246 shares of the firm's stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $3.53 on Tuesday, hitting $164.29. 1,772,262 shares of the company were exchanged, compared to its average volume of 1,537,982. The company's 50 day moving average price is $159.94 and its two-hundred day moving average price is $166.63. The firm has a market capitalization of $53.63 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 8.95 and a beta of 1.47. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $3.56 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.11%. Simon Property Group's dividend payout ratio (DPR) is currently 133.76%.

Analysts Set New Price Targets

A number of analysts have weighed in on SPG shares. Mizuho reduced their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $179.44.

Institutional Investors Weigh In On Simon Property Group

Institutional investors have recently bought and sold shares of the business. Pitcairn Co. raised its stake in shares of Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 55 shares in the last quarter. Colonial Trust Co SC raised its position in Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after purchasing an additional 60 shares during the period. Great Lakes Advisors LLC lifted its stake in Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares during the period. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in Simon Property Group by 1.4% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust's stock valued at $864,000 after purchasing an additional 70 shares in the last quarter. 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 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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