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

Simon Property Group, Inc. (NYSE:SPG) Director Larry Glasscock bought 351 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were bought 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 approximately $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Simon Property Group Stock Up 0.3%

SPG stock opened at $185.58 on Friday. The stock has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 11.20 and a beta of 1.50. The firm has a 50-day simple moving average of $176.78 and a 200-day simple moving average of $165.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. 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 dividend on an annualized basis and a yield of 4.6%. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Hedge Funds Weigh In On Simon Property Group

Large investors have recently made changes to their positions in the stock. Trust Co. of Toledo NA OH acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $25,000. Park Square Financial Group LLC lifted its holdings in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $30,000. Finally, Silicon Valley Capital Partners acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $30,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SPG shares. Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a research report on Saturday, September 27th. Piper Sandler boosted their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Argus reiterated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Scotiabank boosted their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $187.00 target price (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $186.46.

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.