Simon Property Group, Inc. (NYSE: SPG) is 6.79% higher on its value in year-to-date trading and has touched a low of $100.17 and a high of $153.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SPG stock was last observed hovering at around $149.86 in the last trading session, with the day’s gains setting it 2.46%.
Currently trading at $152.32, the stock is 2.96% and 5.52% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.74 million and changing 1.64% at the moment leaves the stock 23.80% off its SMA200. SPG registered 22.99% gain for a year compared to 6-month gain of 32.52%. The firm has a 50-day simple moving average (SMA 50) of $13.08 and a 200-day simple moving average (SMA200) of $15.15.
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The stock witnessed a 11.35% loss in the last 1 month and extending the period to 3 months gives it a 16.41%, and is 1.64% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.45% over the week and 2.25% over the month.
Simon Property Group, Inc. (SPG) has around 3000 employees, a market worth around $49.64B and $5.66B in sales. Current P/E ratio is 21.91 and Fwd P/E is 23.48. Profit margin for the company is 40.64%. Distance from 52-week low is 52.06% and -0.77% from its 52-week high. The company has generated returns on investments over the last 12 months (8.64%).
Simon Property Group, Inc. quarterly earnings per share for the current quarter are estimated at $1.32 with sales reaching $1.29B over the same period.The EPS is expected to shrink by -10.29% this year, but quarterly earnings will post 3.10% year-over-year. Quarterly sales are estimated to grow 3.90% in year-over-year returns.
1,462 institutions hold shares in Simon Property Group, Inc. (SPG), with institutional investors hold 92.30% of the company’s shares. The shares outstanding are 325.91M, and float is at 323.17M with Short Float at 1.26%. Institutions hold 91.45% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 46.25 million shares valued at $5.34 billion. The investor’s holdings represent 14.14% of the SPG Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 34.01 million shares valued at $3.93 billion to account for 10.39% of the shares outstanding. The other top investors are Cohen & Steers Inc. which holds 24.43 million shares representing 7.47% and valued at over $2.82 billion, while State Street Corporation holds 6.91% of the shares totaling 22.6 million with a market value of $2.61 billion.
Simon Property Group, Inc. (SPG) Insider Activity
The most recent transaction is an insider purchase by LEIBOWITZ REUBEN S, the company’s Director. SEC filings show that LEIBOWITZ REUBEN S bought 451 shares of the company’s common stock on Dec 29 ’23 at a price of $143.85 per share for a total of $64876.0. Following the purchase, the insider now owns 50178.0 shares.
Simon Property Group, Inc. disclosed in a document filed with the SEC on Dec 29 ’23 that HUBBARD ALLAN B (Director) bought a total of 367 shares of the company’s common stock. The trade occurred on Dec 29 ’23 and was made at $143.85 per share for $52793.0. Following the transaction, the insider now directly holds 31865.0 shares of the SPG stock.
Still, SEC filings show that on Dec 29 ’23, GLASSCOCK LARRY C (Director) acquired 332 shares at an average price of $143.85 for $47758.0. The insider now directly holds 38,220 shares of Simon Property Group, Inc. (SPG).
