Simon Property Group, Inc. (NYSE:SPG) Director Purchases $78,394.35 in Stock

Simon Property Group, Inc. (NYSE:SPG) Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Simon Property Group Stock Up 1.5 %

Shares of NYSE SPG opened at $176.07 on Friday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The stock’s 50-day simple moving average is $177.07 and its 200-day simple moving average is $165.93. The firm has a market cap of $57.45 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.20 earnings per share. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.77%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio is 111.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Mizuho boosted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $172.10.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in Simon Property Group during the 3rd quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $42,000. Eastern Bank bought a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $42,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $52,000. 93.01% of the stock is owned by institutional investors and hedge funds.

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.