Insider Buying: Simon Property Group (NYSE:SPG) Director Purchases 347 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG) Director Daniel Smith bought 347 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $64,542.00. Following the completion of the purchase, the director directly owned 32,680 shares in the company, valued at approximately $6,078,480. This represents a 1.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Simon Property Group Trading Up 0.2%

NYSE:SPG traded up $0.41 during trading hours on Monday, reaching $184.38. 581,441 shares of the stock were exchanged, compared to its average volume of 772,877. The business has a 50-day moving average of $182.90 and a two-hundred day moving average of $176.36. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The company has a market capitalization of $60.19 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 8.78 and a beta of 1.37. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a dividend of $2.20 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is currently 128.09%.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently modified their holdings of the business. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group in the 2nd quarter worth about $25,000. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter worth about $26,000. VSM Wealth Advisory LLC bought a new position in shares of Simon Property Group in the second quarter valued at approximately $30,000. Silicon Valley Capital Partners bought a new position in Simon Property Group during the second quarter valued at about $30,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Simon Property Group by 205.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group News Roundup

Here are the key news stories impacting Simon Property Group this week:

• Positive Sentiment: Multiple directors increased their holdings (Glyn Aeppel, Larry C. Glasscock, Nina P. Jones, Reuben S. Leibowitz, Randall J. Lewis, Gary M. Rodkin, Peggy Roe, Stefan M. Selig, Daniel C. Smith, Marta R. Stewart). Purchases ranged from 35 to 480 shares apiece at an average price of $186, modest in size but broad across the board — a supportive insider signal. Read More.
• Neutral Sentiment: The dollar amounts are small relative to SPG’s $60B market cap and don’t change ownership control; this makes the purchases more of a confidence signal than a material financial commitment. Read More.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Scotiabank lifted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Truist Financial increased their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Barclays upped their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Finally, Morgan Stanley boosted their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average price target of $189.83.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.