Simon Property Group (NYSE:SPG) Director Glyn Aeppel Purchases 208 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Glyn Aeppel acquired 208 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the acquisition, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $185.91 on Thursday. The firm’s 50 day simple moving average is $176.01 and its 200 day simple moving average is $165.23. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a market capitalization of $60.70 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 11.36 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in Simon Property Group during the 4th quarter worth about $295,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Simon Property Group by 36.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust’s stock valued at $4,074,000 after acquiring an additional 6,293 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 95 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Simon Property Group by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,801 shares of the real estate investment trust’s stock worth $631,000 after acquiring an additional 162 shares in the last quarter. Finally, NBC Securities Inc. boosted its position in Simon Property Group by 234,900.0% during the first quarter. NBC Securities Inc. now owns 2,350 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 2,349 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Mizuho cut their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Truist Financial increased their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price 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.