Simon Property Group, Inc. (NYSE:SPG) Director Acquires $34,884.51 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Stefan M. Selig purchased 219 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the purchase, the director owned 31,881 shares in the company, valued at $5,078,324.49. The trade was a 0.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $165.86 on Thursday. The company has a market cap of $54.14 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 9.16 and a beta of 1.43. The business has a 50 day moving average price of $160.46 and a 200 day moving average price of $166.61. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $3.56 earnings per share. Simon Property Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.06%. Simon Property Group’s dividend payout ratio is 133.76%.

Wall Street Analyst Weigh In

SPG has been the topic of several analyst reports. Scotiabank increased their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 17th. Wall Street Zen lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. JPMorgan Chase & Co. cut their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Mizuho decreased their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Finally, Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $178.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Simon Property Group in the first quarter valued at about $2,147,000. Swedbank AB raised its holdings in Simon Property Group by 1.3% in the 1st quarter. Swedbank AB now owns 130,654 shares of the real estate investment trust’s stock valued at $21,699,000 after acquiring an additional 1,667 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Simon Property Group by 16.3% in the 1st quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust’s stock worth $34,996,000 after acquiring an additional 29,479 shares during the period. Inspire Investing LLC lifted its position in shares of 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 worth $5,358,000 after acquiring an additional 1,750 shares during the period. Finally, Modern Wealth Management LLC grew its holdings in shares of Simon Property Group by 5.5% during the 1st quarter. Modern Wealth Management LLC now owns 29,508 shares of the real estate investment trust’s stock worth $4,901,000 after purchasing an additional 1,527 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

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.