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

Simon Property Group, Inc. (NYSE:SPG) Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $0.39 during trading hours on Thursday, hitting $172.60. 396,500 shares of the stock were exchanged, compared to its average volume of 1,453,008. The company’s fifty day simple moving average is $176.96 and its two-hundred day simple moving average is $165.68. The company has a market cap of $56.32 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. 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.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results 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). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business posted $3.20 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.87%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a report on Thursday. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.10.

Institutional Inflows and Outflows

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

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.