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

Simon Property Group, Inc. (NYSE:SPG) Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction 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 completion of the acquisition, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Simon Property Group Price Performance

SPG stock opened at $148.26 on Thursday. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $157.82. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The stock has a market cap of $48.32 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 8.79 and a beta of 1.75. The business has a fifty day moving average of $147.79 and a two-hundred day moving average of $146.79.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 EPS 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 analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.74 earnings per share. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SPG shares. Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Truist Financial lifted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Scotiabank raised their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.60.

Institutional Trading of Simon Property Group

Hedge funds have recently modified their holdings of the stock. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group during the first quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group during the 1st quarter worth approximately $26,000. Cape Investment Advisory Inc. increased its position in shares of Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group in the 1st quarter valued at $29,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Simon Property Group during the 1st quarter worth $33,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

About Simon Property Group

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.