Simon Property Group (NYSE:SPG) Director Reuben Leibowitz Buys 464 Shares

Key Points

• Reuben Leibowitz, a director at Simon Property Group, purchased 464 shares at an average price of $185.95, increasing his ownership by 0.80% to a total of 58,659 shares.
• Simon Property Group's stock recently saw a slight decline, trading down 0.9% to $185.91, with a market cap of approximately $60.70 billion.
• The company announced a quarterly dividend increase to $2.15 per share, marking a positive change from the previous dividend of $2.10, with an annualized dividend yield of 4.6%.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Reuben Leibowitz acquired 464 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the acquisition, the director owned 58,659 shares in the company, valued at approximately $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Simon Property Group Stock Down 0.9%

Shares of NYSE:SPG traded down $1.76 during mid-day trading on Wednesday, hitting $185.91. 1,836,383 shares of the company traded hands, compared to its average volume of 1,664,825. The firm has a market cap of $60.70 billion, a P/E ratio of 28.73, a PEG ratio of 11.25 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The firm's 50 day simple moving average is $175.60 and its 200 day simple moving average is $165.08.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm earned $2.90 EPS. Simon Property Group's quarterly 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. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is 132.92%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Mizuho cut their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Morgan Stanley raised their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Stifel Nicolaus downgraded 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. Evercore ISI reissued an "in-line" rating and issued a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Finally, Truist Financial raised their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday, August 25th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average target price of $186.46.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPG. Legacy Wealth Asset Management LLC lifted its holdings in shares of Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust's stock valued at $2,213,000 after buying an additional 66 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after buying an additional 68 shares during the period. Wedmont Private Capital lifted its holdings in shares of Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock valued at $1,147,000 after buying an additional 68 shares during the period. PFS Partners LLC lifted its holdings in shares of Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock valued at $91,000 after buying an additional 68 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its holdings in shares of Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

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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