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 the business’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Simon Property Group Stock Up 1.5 %

Shares of SPG stock 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. The stock has a market cap of $57.45 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The business’s fifty day moving average is $177.07 and its 200-day moving average is $165.93. 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 posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the business posted $3.20 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect 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. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently modified their holdings of SPG. Aptus Capital Advisors LLC increased its stake in Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 61 shares in the last quarter. Inspire Advisors LLC increased its position in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after acquiring an additional 65 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of Simon Property Group by 0.9% during the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after acquiring an additional 67 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after acquiring an additional 68 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in Simon Property Group by 2.8% in the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 71 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Stifel Nicolaus restated 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. Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised 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 report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $172.10.

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.