Simon Property Group (NYSE:SPG) Director Acquires $65,268.45 in Stock

Key Points

• Director Acquisition: Larry Glasscock, a director of Simon Property Group, purchased 351 shares for a total of $65,268.45, increasing his ownership by 0.81% to 43,536 shares.
• Dividend Increase: Simon Property Group announced a quarterly dividend of $2.15, up from $2.10, with an annualized yield of 4.6% and a payout ratio of 132.92%.
• Strong Earnings Performance: The company reported $3.05 EPS for the last quarter, exceeding estimates, with a revenue increase of 13.9% year-over-year, leading to positive guidance for FY 2025.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Larry Glasscock acquired 351 shares of the stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director directly owned 43,536 shares of the company's stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Simon Property Group Trading Down 0.9%

Shares of Simon Property Group stock traded down $1.76 on Wednesday, hitting $185.91. The stock had a trading volume of 1,836,383 shares, compared to its average volume of 1,664,825. The stock has a 50 day moving average of $175.60 and a 200 day moving average of $165.08. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The firm 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 (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the business posted $2.90 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.6%. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Institutional Investors Weigh In On Simon Property Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after buying an additional 789 shares during the last quarter. Golden State Wealth Management LLC increased its position 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 valued at $128,000 after purchasing an additional 509 shares during the last quarter. Inspire Investing LLC increased its position 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 valued at $5,358,000 after purchasing an additional 1,750 shares during the last quarter. Voya Investment Management LLC increased its position 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 valued at $34,996,000 after purchasing an additional 29,479 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in shares of Simon Property Group during the 2nd quarter valued at $283,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on SPG shares. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Scotiabank increased their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Evercore ISI restated 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. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a report on Tuesday, September 2nd. Finally, Argus restated a "buy" rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $186.46.

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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