Simon Property Group, Inc. (NYSE:SPG) Director Buys $61,901.00 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Simon Property Group Price Performance

SPG stock opened at $168.35 on Friday. The stock has a market capitalization of $54.89 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 9.19 and a beta of 1.74. The stock’s fifty day simple moving average is $162.00 and its 200-day simple moving average is $153.25. Simon Property Group, Inc. has a 52-week low of $102.78 and a 52-week high of $170.87. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $2.88 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Institutional Investors Weigh In On Simon Property Group

A number of institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc grew its holdings in shares of Simon Property Group by 9.1% during the 4th quarter. TD Asset Management Inc now owns 118,933 shares of the real estate investment trust’s stock worth $16,965,000 after purchasing an additional 9,887 shares during the period. Scotia Capital Inc. grew its stake in Simon Property Group by 14.0% during the fourth quarter. Scotia Capital Inc. now owns 7,397 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 910 shares during the period. Bank of Nova Scotia increased its position in shares of Simon Property Group by 33.5% in the fourth quarter. Bank of Nova Scotia now owns 40,496 shares of the real estate investment trust’s stock worth $5,776,000 after acquiring an additional 10,162 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Simon Property Group by 1.7% in the 4th quarter. California State Teachers Retirement System now owns 526,072 shares of the real estate investment trust’s stock valued at $75,039,000 after acquiring an additional 8,577 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Simon Property Group by 252.5% during the 4th quarter. KBC Group NV now owns 271,041 shares of the real estate investment trust’s stock valued at $38,661,000 after acquiring an additional 194,160 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $162.78.

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.