Marta R. Stewart Acquires 156 Shares of Simon Property Group, Inc. (NYSE:SPG) Stock

Simon Property Group, Inc. (NYSE:SPGGet Free Report) Director Marta R. Stewart acquired 156 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were bought at an average cost of $154.19 per share, for a total transaction of $24,053.64. Following the completion of the acquisition, the director now directly owns 12,584 shares of the company’s stock, valued at $1,940,326.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Simon Property Group Price Performance

Simon Property Group stock opened at $149.76 on Thursday. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The company’s fifty day moving average price is $148.48 and its 200 day moving average price is $132.76. The stock has a market capitalization of $48.81 billion, a P/E ratio of 21.46, a P/E/G ratio of 7.87 and a beta of 1.65. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business earned $3.15 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 8th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $1.95 per share. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.21%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio is presently 111.75%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Piper Sandler upped their price objective on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 20th. Evercore ISI lifted their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, Morgan Stanley lifted their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $140.22.

View Our Latest Stock Report on Simon Property Group

Institutional Trading of Simon Property Group

Large investors have recently made changes to their positions in the company. Arlington Trust Co LLC acquired a new stake in Simon Property Group during the 3rd quarter worth $25,000. DT Investment Partners LLC boosted its position in Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Selway Asset Management purchased a new stake in Simon Property Group during the 3rd quarter valued at about $26,000. Financial Freedom LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $27,000. Finally, Tyler Stone Wealth Management purchased a new position in Simon Property Group in the 2nd quarter worth approximately $27,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Company Profile

(Get Free Report)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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