Simon Property Group (NYSE:SPG) Director Daniel Smith Buys 335 Shares

Key Points

• Director Daniel Smith of Simon Property Group purchased 335 shares at an average price of $185.95, increasing his ownership in the company to 32,333 shares.
• Simon Property Group announced a quarterly dividend increase to $2.15 per share, representing a 4.6% yield and an annualized dividend of $8.60.
• The company reported $3.05 EPS for the last quarter, exceeding expectations, with a revenue increase of 13.9% year-over-year.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Daniel Smith bought 335 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the completion of the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Simon Property Group Trading Down 0.9%

Simon Property Group stock traded down $1.76 during midday trading on Wednesday, reaching $185.91. 1,836,383 shares of the stock traded hands, compared to its average volume of 1,664,825. The company has a 50-day simple moving average of $175.60 and a two-hundred day simple moving average of $165.08. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market cap of $60.70 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 11.25 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (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 during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the business posted $2.90 EPS. The business's quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Research 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. Simon Property Group's dividend payout ratio is 132.92%.

Analyst Upgrades and Downgrades

SPG has been the topic of several research analyst reports. Morgan Stanley lifted their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Evercore ISI reaffirmed an "in-line" rating and set a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Scotiabank lifted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. Barclays initiated coverage on Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. Finally, Argus reaffirmed a "buy" rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $186.46.

Institutional Trading of Simon Property Group

Institutional investors have recently modified their holdings of the business. Trust Co. of Toledo NA OH purchased a new stake in shares of Simon Property Group in the second quarter valued at approximately $25,000. Park Square Financial Group LLC boosted its position in Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. boosted its position in 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. Silicon Valley Capital Partners purchased a new stake in Simon Property Group during the second quarter worth $30,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Simon Property Group during the second quarter worth $30,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.

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