Simon Property Group (NYSE:SPG) Director Stefan Selig Buys 195 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Stefan Selig purchased 195 shares of the stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the transaction, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Simon Property Group Stock Up 0.3%

NYSE:SPG opened at $185.58 on Friday. The firm has a market capitalization of $60.59 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 11.20 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock’s 50 day moving average price is $176.78 and its two-hundred day moving average price is $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 (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 the consensus estimate 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 return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a positive change 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 payout ratio is presently 132.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings 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 in the last quarter. MinichMacGregor Wealth Management LLC acquired a new position in Simon Property Group in the 2nd quarter valued at $283,000. Golden State Wealth Management LLC grew its holdings in Simon Property Group by 193.5% in 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 buying an additional 509 shares in the last quarter. Inspire Investing LLC grew its holdings in Simon Property Group by 5.7% in 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 buying an additional 1,750 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after buying an additional 53,764 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Mizuho decreased their target price 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. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 target price on the stock. Finally, Argus reissued a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.