Reuben S. Leibowitz Purchases 522 Shares of Simon Property Group, Inc. (NYSE:SPG) Stock

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

Simon Property Group Trading Up 0.6%

SPG traded up $1.07 during trading on Wednesday, hitting $165.34. 218,935 shares of the company's stock were exchanged, compared to its average volume of 1,533,395. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The firm has a market cap of $53.97 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 8.96 and a beta of 1.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The stock has a 50 day moving average price of $160.21 and a 200 day moving average price of $166.62.

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 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. Simon Property Group's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.56 earnings per share. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SPG shares. JPMorgan Chase & Co. lowered their price target 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. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Piper Sandler decreased their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Barclays started coverage on shares of Simon Property Group in a report on Wednesday. They issued an "equal weight" rating and a $170.00 target price on the stock. Finally, Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $178.50.

Institutional Investors Weigh In On Simon Property Group

Several large investors have recently added to or reduced their stakes in the stock. AG2R LA Mondiale Gestion D Actifs bought a new position in Simon Property Group during the 1st quarter valued at $2,147,000. Swedbank AB boosted its position in Simon Property Group by 1.3% during the 1st quarter. Swedbank AB now owns 130,654 shares of the real estate investment trust's stock worth $21,699,000 after acquiring an additional 1,667 shares during the period. Voya Investment Management LLC increased its stake in Simon Property Group by 16.3% in the 1st quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust's stock valued at $34,996,000 after buying an additional 29,479 shares during the period. Inspire Investing LLC lifted its position in Simon Property Group by 5.7% in the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock worth $5,358,000 after buying an additional 1,750 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its position in Simon Property Group by 5.5% in the 1st quarter. Modern Wealth Management LLC now owns 29,508 shares of the real estate investment trust's stock worth $4,901,000 after buying an additional 1,527 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

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.