Simon Property Group (NYSE:SPG) Stock: Insider Randall Lewis Buys 65 Shares

Simon Property Group, Inc. (NYSE:SPG) Director Randall Lewis acquired 65 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average cost of $202.78 per share, for a total transaction of $13,180.70. Following the completion of the purchase, the director directly owned 7,083 shares in the company, valued at approximately $1,436,290.74. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Simon Property Group Trading Up 0.0%

Shares of NYSE:SPG traded up $0.08 during trading on Thursday, reaching $200.84. 1,140,667 shares of the stock were exchanged, compared to its average volume of 1,632,737. The firm’s 50-day moving average price is $215.62 and its 200 day moving average price is $209.36. The firm has a market cap of $64.98 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 3.15 and a beta of 1.28. Simon Property Group, Inc. has a 12-month low of $172.19 and a 12-month high of $238.50. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.15). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 13.23 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 63.47%.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Simon Property Group by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 337,371 shares of the real estate investment trust’s stock worth $75,453,000 after acquiring an additional 11,947 shares during the last quarter. U S Wealth Group LLC. boosted its holdings in Simon Property Group by 9.8% in the second quarter. U S Wealth Group LLC. now owns 16,406 shares of the real estate investment trust’s stock valued at $3,669,000 after purchasing an additional 1,458 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Simon Property Group by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 248,541 shares of the real estate investment trust’s stock valued at $55,586,000 after purchasing an additional 2,902 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Simon Property Group by 20.2% in the second quarter. Sequoia Financial Advisors LLC now owns 11,752 shares of the real estate investment trust’s stock valued at $2,628,000 after purchasing an additional 1,974 shares during the last quarter. Finally, IPG Investment Advisors LLC acquired a new stake in Simon Property Group during the 2nd quarter valued at approximately $1,903,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPG. Piper Sandler upped their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Jefferies Financial Group raised Simon Property Group to a “strong-buy” rating in a research report on Friday, June 26th. Mizuho boosted their price objective on Simon Property Group from $211.00 to $226.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Morgan Stanley boosted their price objective on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Finally, Truist Financial upped their target price on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $227.64.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.