Simon Property Group, Inc. (NYSE:SPG – Get Rating) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 6,057 call options on the stock. This is an increase of 22% compared to the typical daily volume of 4,962 call options.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Clearstead Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $48,000. LPL Financial LLC lifted its holdings in Simon Property Group by 6.9% during the 4th quarter. LPL Financial LLC now owns 214,724 shares of the real estate investment trust's stock worth $34,306,000 after purchasing an additional 13,802 shares during the last quarter. Journey Strategic Wealth LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $350,000. One Wealth Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $242,000. Finally, Eaton Vance Management lifted its holdings in Simon Property Group by 0.3% during the 4th quarter. Eaton Vance Management now owns 67,689 shares of the real estate investment trust's stock worth $10,235,000 after purchasing an additional 174 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.
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Simon Property Group Trading Up 2.4 %
NYSE:SPG traded up $2.06 during mid-day trading on Tuesday, hitting $89.42. The company had a trading volume of 31,947 shares, compared to its average volume of 1,903,439. Simon Property Group has a fifty-two week low of $86.02 and a fifty-two week high of $171.12. The business's fifty day moving average is $104.44 and its two-hundred day moving average is $111.23. The company has a debt-to-equity ratio of 7.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $30.66 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.70 and a beta of 1.49.
Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. Simon Property Group had a return on equity of 56.93% and a net
margin of 40.59%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company earned $2.92 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts expect that Simon Property Group will post 11.66 earnings per share for the current year.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Thursday, September 8th. This is a boost from Simon Property Group's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 7.83%. Simon Property Group's dividend payout ratio is 109.20%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on SPG shares. Evercore ISI decreased their target price on shares of Simon Property Group from $119.00 to $114.00 and set an "outperform" rating on the stock in a research report on Tuesday. UBS Group boosted their target price on shares of Simon Property Group from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, August 2nd. Piper Sandler reduced their price target on shares of Simon Property Group to $130.00 in a report on Monday, July 4th. Truist Financial reduced their price objective on shares of Simon Property Group from $130.00 to $125.00 and set a "hold" rating for the company in a report on Monday, August 15th. Finally, Mizuho cut their price target on shares of Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.43.
Simon Property Group Company Profile
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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.
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