Rep. Victoria Spartz Purchases Shares of Simon Property Group, Inc. (NYSE:SPG)

Representative Victoria Spartz (R-Indiana) recently bought shares of Simon Property Group, Inc. NYSE: SPG. In a filing disclosed on February 10th, the Representative disclosed that they had bought between $15,001 and $50,000 in Simon Property Group stock on February 3rd. The trade occurred in the Representative's "CHARLES SCHWAB ROTH IRA" account.

Simon Property Group Stock Performance

SPG stock traded down $1.10 during midday trading on Friday, reaching $185.12. The company had a trading volume of 998,005 shares, compared to its average volume of 1,178,802. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a 50 day moving average price of $175.72 and a 200 day moving average price of $171.45. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.14. The firm has a market capitalization of $60.40 billion, a PE ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.54%. Simon Property Group's payout ratio is currently 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the business's stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group in the third quarter valued at $834,000. First Hawaiian Bank increased its holdings in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC increased its holdings in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust's stock valued at $2,973,000 after buying an additional 10,644 shares in the last quarter. TTP Investments Inc. increased its holdings in shares of Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust's stock valued at $5,796,000 after buying an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares during the period. Institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective for the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group has an average rating of "Hold" and a consensus price target of $175.10.

About Representative Spartz

Victoria Spartz (Republican Party) is a member of the U.S. House, representing Indiana's 5th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2027. Spartz (Republican Party) is running for re-election to the U.S. House to represent Indiana's 5th Congressional District. She declared candidacy for the 2026 election. Victoria Spartz lives in Noblesville, Indiana. Spartz earned a B.S. and M.B.A. from the National University of Economics in Ukraine, and a master's degree in professional accountancy from Indiana University's Kelley School of Business. Her career experience includes working as a certified public accountant, an adjunct professor at Indiana University Kelley School of Business, the CFO of the Indiana Attorney General's office, and owning a business.

About Simon Property Group

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.