Reuben S. Leibowitz Acquires 486 Shares of Simon Property Group, Inc. (NYSE:SPG) Stock

Simon Property Group, Inc. (NYSE:SPG) Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Simon Property Group Stock Up 0.2 %

Shares of SPG traded up $0.34 during trading hours on Tuesday, reaching $146.86. The stock had a trading volume of 384,139 shares, compared to its average volume of 1,499,321. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $157.82. The firm has a 50-day simple moving average of $147.63 and a 200 day simple moving average of $146.77. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 9.02 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business earned $2.74 earnings per share. Simon Property Group’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.45%. Simon Property Group’s dividend payout ratio (DPR) is 101.91%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research reports. Truist Financial raised their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Scotiabank raised their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Argus raised their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and an average target price of $147.60.

Hedge Funds Weigh In On Simon Property Group

Several large investors have recently bought and sold shares of SPG. Clearstead Trust LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the 1st quarter valued at about $26,000. Cape Investment Advisory Inc. grew its holdings in Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 192 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Simon Property Group during the first quarter worth about $29,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Simon Property Group during the first quarter worth about $33,000. 93.01% of the stock is currently owned by institutional investors.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.