Stock traders buy large volume of call options on Simon Property Group (NYSE:SPG)

Simon Property Group, Inc. (NYSE:SPG – Get Rating) was the target of unusually heavy options trading activity on Tuesday. Stock traders bought 6,057 call options on the stock. This is a 22% increase from the typical daily volume of 4,962 call options.

Institutional entries and exits

Major investors have recently been buying and selling stocks. Clearstead Advisors LLC acquired a new stake in Simon Property Group during Q4 valued at approximately $48,000. LPL Financial LLC increased its stake 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 worth $34,306,000 after purchasing an additional 13,802 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in Simon Property Group during Q4 for a value of approximately $350,000. One Wealth Advisors LLC acquired a new stake in Simon Property Group during Q4 for a value of approximately $242,000. Finally, Eaton Vance Management increased its stake 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 worth $10,235,000 after buying 174 additional shares in the last quarter. 81.86% of the shares are held by institutional investors and hedge funds.

Simon Property Group trades up 2.4%

NYSE: SPG traded $2.06 midday 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 company’s fifty-day moving average is $104.44 and its two-hundred-day moving average is $111.23. The company has a debt ratio of 7.13, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization 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 results on Monday, August 1. The real estate investment trust reported earnings per share (EPS) of $1.51 for the quarter, beating 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 posted revenue of $1.28 billion in the quarter, versus a consensus estimate of $1.25 billion. In the same period a year earlier, the company had earned earnings per share of $2.92. The company’s revenue for the quarter increased by 2.0% compared to the same quarter last year. As a group, research analysts expect Simon Property Group to post earnings per share of 11.66 for the current year.

Simon Property Group increases its dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Friday, September 9 will receive a dividend of $1.75 per share. The ex-date of this dividend is Thursday, September 8. This is a boost from Simon Property Group’s previous quarterly dividend of $1.70. This represents an annualized dividend of $7.00 and a yield of 7.83%. Simon Property Group’s dividend distribution rate is 109.20%.

Changes to analyst ratings

Several equity research analysts have recently released reports on SPG shares. Evercore ISI cut its price target on Simon Property Group shares from $119.00 to $114.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group raised its price target on shares of Simon Property Group from $110.00 to $115.00 and gave the company a “neutral” rating in a Tuesday, August 2 research note. Piper Sandler cut her price target on shares of Simon Property Group to $130.00 in a Monday, July 4 report. Truist Financial cut its price target on shares of Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a Monday, August 15 report. Finally, Mizuho cut its price target on Simon Property Group shares from $158.00 to $115.00 and set a “neutral” rating for the company in a Wednesday, August 3 report. Seven equity research analysts gave the stock a hold rating and seven gave the company a buy rating. Based on MarketBeat data, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.43.

Simon Real Estate Group Company Profile

(Get a rating)

Simon is a real estate investment trust engaged in the ownership of leading 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.

Further reading

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