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

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

Simon Property Group Stock Performance

Simon Property Group stock opened at $176.07 on Friday. The company has a market cap of $57.45 billion, a PE ratio of 23.44, a P/E/G ratio of 10.50 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a fifty day moving average price of $176.96 and a two-hundred day moving average price of $165.73. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $3.20 EPS. Simon Property Group’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts expect that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPG. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday. Finally, Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $172.10.

Institutional Investors Weigh In On Simon Property Group

Large investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the 2nd quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the third quarter worth $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group during the third quarter valued at $42,000. Eastern Bank bought a new stake in shares of Simon Property Group during the third quarter valued at about $42,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Simon Property Group in the third quarter worth about $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.