Insider Buying: Simon Property Group, Inc. (NYSE:SPG) Director Acquires 465 Shares of Stock

Simon Property Group, Inc. (NYSE:SPG) Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost 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 $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Simon Property Group Trading Up 0.8 %

NYSE:SPG opened at $173.53 on Friday. The business’s 50-day simple moving average is $176.96 and its 200-day simple moving average is $165.73. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $56.62 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company 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. The firm’s revenue was up 4.9% on a year-over-year basis. Sell-side 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 company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.84%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s payout ratio is 111.85%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPG. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho upped their target price 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. Jefferies Financial Group raised 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 research note on Thursday. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $172.10.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPG. Oddo BHF Asset Management Sas bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $1,144,000. Inspire Trust Co. N.A. grew its position in Simon Property Group by 8.7% in the third quarter. Inspire Trust Co. N.A. now owns 12,500 shares of the real estate investment trust’s stock valued at $2,113,000 after purchasing an additional 1,000 shares in the last quarter. Synovus Financial Corp increased its stake in Simon Property Group by 50.7% in the 3rd quarter. Synovus Financial Corp now owns 2,607 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 877 shares during the last quarter. Blankinship & Foster LLC bought a new stake in Simon Property Group during the 3rd quarter worth about $608,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group during the 3rd quarter worth about $834,000. 93.01% of the stock is currently owned by institutional investors.

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.