Simon Property Group, Inc. (NYSE:SPG) Director Acquires $78,394.35 in Stock

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Simon Property Group Price Performance

SPG traded up $1.32 during trading on Thursday, reaching $173.53. 1,154,458 shares of the company were exchanged, compared to its average volume of 1,453,008. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The company's 50-day moving average is $176.96 and its two-hundred day moving average is $165.73. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market cap of $56.62 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 earnings per share. Research analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date was Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.84%. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is 111.85%.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Evercore ISI upgraded Simon Property Group from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $179.00 to $198.00 in a research note on Thursday. Finally, Stifel Nicolaus restated a "hold" rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $172.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPG. Oddo BHF Asset Management Sas purchased a new position in shares of Simon Property Group during the third quarter worth approximately $1,144,000. Inspire Trust Co. N.A. grew its holdings in shares of Simon Property Group by 8.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 12,500 shares of the real estate investment trust's stock valued at $2,113,000 after purchasing an additional 1,000 shares during the last quarter. Synovus Financial Corp raised its position in Simon Property Group by 50.7% in the 3rd quarter. Synovus Financial Corp now owns 2,607 shares of the real estate investment trust's stock worth $440,000 after purchasing an additional 877 shares during the period. Blankinship & Foster LLC bought a new stake in Simon Property Group in the third quarter worth $608,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group during the third quarter valued at about $834,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.