Stock Traders Buy High Volume of Simon Property Group Call Options (NYSE:SPG)


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Simon Property Group, Inc. (NYSE:SPG) was the recipient of some unusual options trading on Wednesday. Investors purchased 100,575 call options on the company. This is an increase of 1,986% compared to the typical daily volume of 4,821 call options.

SPG opened at $117.01 on Thursday. The business has a fifty day simple moving average of $113.89 and a 200-day simple moving average of $89.15. Simon Property Group has a 52 week low of $47.25 and a 52 week high of $121.92. The firm has a market cap of $38.44 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.87 and a beta of 1.51. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 12.74.

Simon Property Group (NYSE:SPG) last issued its earnings results on Sunday, February 7th. The real estate investment trust reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($1.33). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. Simon Property Group had a net margin of 27.22% and a return on equity of 56.28%. The firm’s revenue was down 24.0% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. Sell-side analysts expect that Simon Property Group will post 9.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 23rd. Investors of record on Friday, April 9th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $5.20 annualized dividend and a yield of 4.44%. Simon Property Group’s dividend payout ratio (DPR) is 43.19%.

SPG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Simon Property Group from $104.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. Mizuho increased their price target on Simon Property Group from $74.00 to $97.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 9th. Compass Point lifted their price objective on shares of Simon Property Group from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, January 20th. Truist lifted their target price on Simon Property Group from $72.00 to $94.00 in a report on Friday, December 11th. Finally, Evercore ISI assumed coverage on shares of Simon Property Group in a research report on Wednesday, January 6th. They set an “inline” rating and a $89.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $94.59.

Institutional investors have recently bought and sold shares of the business. Virtus ETF Advisers LLC increased its stake in shares of Simon Property Group by 17.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 21,369 shares of the real estate investment trust’s stock worth $1,822,000 after acquiring an additional 3,170 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Simon Property Group by 18.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 2,672,172 shares of the real estate investment trust’s stock worth $227,883,000 after buying an additional 408,670 shares in the last quarter. Xponance Inc. grew its holdings in Simon Property Group by 9.1% during the 4th quarter. Xponance Inc. now owns 40,694 shares of the real estate investment trust’s stock valued at $3,470,000 after buying an additional 3,406 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Simon Property Group by 4.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 55,253 shares of the real estate investment trust’s stock valued at $4,712,000 after buying an additional 2,226 shares during the last quarter. Finally, Lincluden Management Ltd. lifted its holdings in shares of Simon Property Group by 29.8% during the 4th quarter. Lincluden Management Ltd. now owns 15,700 shares of the real estate investment trust’s stock worth $1,339,000 after acquiring an additional 3,600 shares during the period. 88.23% of the stock is owned by institutional investors.

Simon Property Group Company Profile

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

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