Simon Property Group (NYSE:SPG) Director Marta Stewart Buys 199 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG) Director Marta Stewart purchased 199 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of $202.78 per share, for a total transaction of $40,353.22. Following the purchase, the director owned 18,199 shares in the company, valued at approximately $3,690,393.22. This represents a 1.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Simon Property Group Price Performance

Shares of SPG traded up $0.08 during midday trading on Thursday, hitting $200.84. 1,140,667 shares of the company traded hands, compared to its average volume of 1,632,737. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 3.15 and a beta of 1.28. The firm has a 50 day moving average of $215.62 and a 200-day moving average of $209.36. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. Simon Property Group, Inc. has a 52 week low of $172.19 and a 52 week high of $238.50.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.15). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 13.23 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.5%. Simon Property Group’s payout ratio is presently 63.47%.

Institutional Investors Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Simon Property Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after acquiring an additional 455,543 shares during the last quarter. Wellington Management Group LLP raised its position in Simon Property Group by 2.7% in the 2nd quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust’s stock worth $2,100,146,000 after purchasing an additional 242,709 shares during the period. Capital World Investors lifted its stake in Simon Property Group by 2.7% in the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after purchasing an additional 226,271 shares during the last quarter. Bank of America Corp DE lifted its stake in Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after purchasing an additional 491,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Simon Property Group by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust’s stock valued at $859,209,000 after buying an additional 105,524 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SPG shares. Evercore set a $216.00 price objective on Simon Property Group in a report on Monday, September 21st. Piper Sandler boosted their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Stifel Nicolaus upped their price target on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. UBS Group upped their price target on shares of Simon Property Group from $199.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, LADENBURG THALM/SH SH increased their price objective on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $227.64.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.