Insider Buying: Simon Property Group, Inc. (NYSE:SPG) Director Buys 522 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Reuben S. Leibowitz purchased 522 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded up $0.64 on Thursday, reaching $166.48. 925,227 shares of the stock were exchanged, compared to its average volume of 1,537,662. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The business has a 50 day moving average price of $160.46 and a two-hundred day moving average price of $166.61. The firm has a market capitalization of $54.34 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 9.16 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations 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 was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.56 EPS. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share 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 issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.05%. Simon Property Group's payout ratio is currently 133.76%.

Institutional Investors Weigh In On Simon Property Group

Hedge funds have recently modified their holdings of the company. Park Square Financial Group LLC boosted its position in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 81 shares during the period. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $28,000. Richardson Financial Services Inc. boosted its stake in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 111 shares in the last quarter. WR Wealth Planners LLC boosted its position in 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 Simon Property Group in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

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

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.