Simon Property Group, Inc. (NYSE:SPG) Director Marta R. Stewart Buys 208 Shares

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Marta R. Stewart purchased 208 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $33,132.32. Following the completion of the purchase, the director owned 16,080 shares in the company, valued at approximately $2,561,383.20. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Simon Property Group Stock Performance

Simon Property Group stock traded up $1.07 during mid-day trading on Wednesday, reaching $165.34. The company had a trading volume of 218,935 shares, compared to its average volume of 1,533,395. The company has a 50 day moving average of $160.21 and a 200-day moving average of $166.62. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. The firm has a market cap of $53.97 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 8.96 and a beta of 1.44.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.56 EPS. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.08%. Simon Property Group's dividend payout ratio is 133.76%.

Analyst Ratings Changes

A number of analysts recently commented on SPG shares. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Barclays initiated coverage on Simon Property Group in a report on Wednesday. They issued an "equal weight" rating and a $170.00 price target on the stock. Scotiabank increased their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Piper Sandler decreased their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. cut their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average target price of $178.50.

Institutional Investors Weigh In On Simon Property Group

Large investors have recently bought and sold shares of the business. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the fourth quarter worth about $28,000. Richardson Financial Services Inc. lifted its position in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. WR Wealth Planners LLC lifted its position in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. 93.01% of the stock is currently owned by institutional investors.

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.