Simon Property Group, Inc. (NYSE:SPG) Director Reuben S. Leibowitz Buys 486 Shares of Stock

Simon Property Group, Inc. (NYSE:SPGGet Free Report) Director Reuben S. Leibowitz bought 486 shares of Simon Property Group stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Simon Property Group Price Performance

SPG opened at $147.78 on Wednesday. The company has a 50-day moving average of $147.71 and a 200-day moving average of $146.77. The company has a market capitalization of $48.17 billion, a P/E ratio of 18.83, a PEG ratio of 9.02 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19.

Simon Property Group (NYSE:SPGGet Free Report) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. Simon Property Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 EPS. Equities analysts expect that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 101.91%.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Truist Financial boosted their price objective 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. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Argus boosted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.60.

View Our Latest Research Report on SPG

Institutional Investors Weigh In On Simon Property Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter valued at about $2,561,181,000. Charles Schwab Investment Management Inc. grew its position in shares of Simon Property Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock valued at $504,611,000 after buying an additional 72,645 shares during the last quarter. Boston Partners grew its position in shares of Simon Property Group by 4.2% during the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Simon Property Group by 5.9% during the 3rd quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock valued at $203,866,000 after purchasing an additional 105,606 shares during the period. Institutional investors own 93.01% of the company’s stock.

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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