Insider Buying: Simon Property Group (NYSE:SPG) Director Purchases 76 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG) Director Peggy Roe bought 76 shares of the 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 $14,132.20. Following the completion of the purchase, the director directly owned 6,726 shares in the company, valued at $1,250,699.70. This represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Simon Property Group Stock Down 0.9%

NYSE:SPG opened at $185.91 on Thursday. The company has a market cap of $60.70 billion, a PE ratio of 28.73, a P/E/G ratio of 11.36 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 company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company’s 50 day moving average is $176.01 and its two-hundred day moving average is $165.23.

Simon Property Group (NYSE:SPG) last released its 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 company had revenue of $1.50 billion for 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%. Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. 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. Analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.6%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is presently 132.92%.

Institutional Investors Weigh In On Simon Property Group

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Simon Property Group by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock worth $7,369,128,000 after purchasing an additional 149,314 shares in the last quarter. State Street Corp boosted its position in Simon Property Group by 1.1% in the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock worth $3,448,703,000 after purchasing an additional 228,819 shares in the last quarter. Geode Capital Management LLC boosted its position in Simon Property Group by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after purchasing an additional 127,636 shares in the last quarter. Norges Bank purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $1,051,262,000. Finally, JPMorgan Chase & Co. boosted its position in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SPG shares. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Scotiabank upped their target price on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Piper Sandler upped their target price on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Evercore ISI reiterated an “in-line” rating and issued a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently 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.