Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Peggy Fang Roe bought 86 shares of the company's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $13,698.94. Following the completion of the acquisition, the director owned 6,650 shares of the company's stock, valued at $1,059,278.50. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Simon Property Group Stock Up 2.2%
Shares of Simon Property Group stock opened at $164.29 on Wednesday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The firm has a market cap of $53.63 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 8.96 and a beta of 1.44. The company has a 50-day moving average of $160.21 and a 200 day moving average of $166.62. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45.
Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $3.56 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.
Simon Property Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.11%. Simon Property Group's dividend payout ratio is currently 133.76%.
Hedge Funds Weigh In On Simon Property Group
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock valued at $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Norges Bank bought a new position in Simon Property Group in the 4th quarter valued at approximately $2,059,505,000. Geode Capital Management LLC boosted its stake in Simon Property Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after purchasing an additional 230,982 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock worth $923,236,000 after purchasing an additional 96,126 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock worth $805,853,000 after purchasing an additional 141,657 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.
Wall Street Analysts Forecast Growth
SPG has been the subject of several research analyst reports. Mizuho dropped their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. JPMorgan Chase & Co. cut their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Piper Sandler cut their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $179.44.
Get Our Latest Stock Report on SPG
Simon Property Group Company Profile
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Get Free Report)
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.
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