Rep. Victoria Spartz Buys Simon Property Group, Inc. (NYSE:SPG) Stock

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 opened at $184.37 on Wednesday. The stock’s 50 day simple moving average is $175.48 and its 200 day simple moving average is $170.80. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $186.00. The firm has a market cap of $60.16 billion, a P/E ratio of 25.40, a P/E/G ratio of 9.58 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.56%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 8.50% of the stock is owned by insiders.

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $175.10.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank increased its stake in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares during the period. Red Cedar Investment Management LLC raised its holdings in Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares in the last quarter. TTP Investments Inc. lifted its position in 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 worth $5,796,000 after purchasing an additional 10,147 shares during the period. Finally, Versant Capital Management Inc boosted 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 in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

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.