Simon Property Group (NYSE:SPG) Director Larry Glasscock Purchases 363 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Larry Glasscock acquired 363 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the acquisition, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. The trade was a 0.83% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Simon Property Group Stock Performance

SPG stock opened at $183.28 on Tuesday. The firm has a 50 day moving average of $182.97 and a two-hundred day moving average of $176.55. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market capitalization of $59.83 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 8.78 and a beta of 1.37. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. Simon Property Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date was Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 128.09%.

Analyst Ratings Changes

SPG has been the subject of a number of recent analyst reports. Barclays upped their target price on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Citigroup lifted their target price on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Piper Sandler upped their price target on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Evercore ISI raised their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $189.83.

More Simon Property Group News

Here are the key news stories impacting Simon Property Group this week:

• Positive Sentiment: Director Glyn Aeppel bought 216 shares at $186 (increasing his holding to 19,481 shares). Form 4 — Glyn Aeppel
• Positive Sentiment: Director Larry C. Glasscock bought 363 shares at $186 (holding rose to 43,899 shares). Form 4 — Larry C. Glasscock
• Positive Sentiment: Director Nina P. Jones bought 35 shares at $186 (holding 3,031 shares). Form 4 — Nina P. Jones
• Positive Sentiment: Director Reuben S. Leibowitz bought 480 shares at $186 (holding 53,639 shares). Form 4 — Reuben S. Leibowitz
• Positive Sentiment: Director Randall J. Lewis bought 54 shares at $186 (holding 5,827 shares). Form 4 — Randall J. Lewis
• Positive Sentiment: Director Gary M. Rodkin bought 226 shares at $186 (holding 19,455 shares). Form 4 — Gary M. Rodkin
• Positive Sentiment: Director Peggy Roe bought 78 shares at $186 (holding 6,804 shares). Form 4 — Peggy Roe
• Positive Sentiment: Director Stefan M. Selig bought 201 shares at $186 (holding 32,277 shares). Form 4 — Stefan M. Selig
• Positive Sentiment: Director Daniel C. Smith bought 347 shares at $186 (holding 32,680 shares). Form 4 — Daniel C. Smith
• Positive Sentiment: Director Marta R. Stewart bought 192 shares at $186 (holding 16,500 shares). Form 4 — Marta R. Stewart

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at $25,000. Stance Capital LLC bought a new position in Simon Property Group during the 3rd quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new position in Simon Property Group in the second quarter valued at about $30,000. Silicon Valley Capital Partners bought a new stake in Simon Property Group during the second quarter worth about $30,000. Finally, Bell Investment Advisors Inc increased its holdings in shares of Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 146 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.