Simon Property Group, Inc. (NYSE:SPG) Director Allan B. Hubbard Acquires 370 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $0.03 during trading on Tuesday, hitting $168.99. 654,222 shares of the company were exchanged, compared to its average volume of 1,484,552. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $170.87. The company has a market capitalization of $55.10 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 9.19 and a beta of 1.74. The business’s 50 day moving average is $160.99 and its 200-day moving average is $152.90.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.88 earnings per share. Equities analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $2.05 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.85%. Simon Property Group’s payout ratio is currently 104.46%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SPG. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Argus raised their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Mizuho upped their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Six 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.com, the company presently has an average rating of “Hold” and a consensus price target of $162.78.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearstead Trust LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group during the 2nd quarter valued at $27,000. Finally, RFP Financial Group LLC boosted its stake in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

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.