Simon Property Group (NYSE:SPG) Price Target Cut to $221.00 by Analysts at Scotiabank

Simon Property Group (NYSE:SPG) had its price target decreased by equities researchers at Scotiabank from $222.00 to $221.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 7.51% from the stock’s previous close.

SPG has been the subject of a number of other research reports. Stifel Nicolaus increased their target price on shares of Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Barclays upped their price target on Simon Property Group from $213.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 17th. Mizuho increased their price target on Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective for the company. in a report on Thursday, July 9th. Finally, Citigroup boosted their price objective on Simon Property Group from $205.00 to $230.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $228.36.

Simon Property Group Stock Up 1.3%

Simon Property Group stock traded up $2.62 during mid-day trading on Thursday, hitting $205.56. The company’s stock had a trading volume of 190,734 shares, compared to its average volume of 1,646,452. The firm’s 50 day moving average is $219.54 and its 200 day moving average is $208.84. The company has a market cap of $66.51 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 3.08 and a beta of 1.28. Simon Property Group has a 52-week low of $172.19 and a 52-week high of $238.50. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.61 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, analysts anticipate that Simon Property Group will post 13.2 earnings per share for the current year.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin purchased 256 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares of the company’s stock, valued at $4,693,713.44. The trade was a 1.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel C. Smith purchased 372 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the transaction, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. The trade was a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by company insiders.

Institutional Trading of Simon Property Group

A number of hedge funds have recently made changes to their positions in SPG. BlackRock Inc. raised its holdings in shares of Simon Property Group by 1.2% during the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock valued at $8,335,255,000 after buying an additional 455,543 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Simon Property Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after purchasing an additional 363,337 shares during the period. Wellington Management Group LLP grew its holdings in shares of Simon Property Group by 2.7% in the second quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust’s stock worth $2,100,146,000 after purchasing an additional 242,709 shares during the last quarter. Capital World Investors increased its stake in shares of Simon Property Group by 2.7% in the fourth quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after buying an additional 226,271 shares during the period. Finally, Bank of America Corp DE raised its holdings in Simon Property Group by 6.1% during the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock valued at $1,586,089,000 after buying an additional 491,519 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.