Insider Selling: Simon Property Group CAO Unloads 1,370 Shares of Stock (SPG)
Simon Property Group (NYSE:SPG) CAO Steven K. Broadwater unloaded 1,370 shares of Simon Property Group stock on the open market in a transaction dated Thursday, June 26th. The stock was sold at an average price of $165.88, for a total transaction of $227,255.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,596 shares in the company, valued at approximately $430,624. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on SPG shares. Analysts at Jefferies Group cut their price target on shares of Simon Property Group from $200.00 to $190.00 in a research note on Wednesday. Separately, analysts at Cowen and Company cut their price target on shares of Simon Property Group from $196.00 to $189.00 in a research note on Monday, June 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Simon Property Group in a research note on Tuesday, June 3rd. They now have a $175.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $185.57.
Simon Property Group (NYSE:SPG) traded down 0.15% during mid-day trading on Thursday, hitting $165.79. 1,143,369 shares of the company’s stock traded hands. Simon Property Group has a 52-week low of $134.026 and a 52-week high of $170.34. The stock’s 50-day moving average is $165.7 and its 200-day moving average is $154.5. The company has a market cap of $51.504 billion and a price-to-earnings ratio of 37.49.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $2.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.24 by $0.14. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $2.05 earnings per share. Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Simon Property Group will post $9.14 EPS for the current fiscal year.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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