Barclays Issues Positive Forecast for Simon Property Group (NYSE:SPG) Stock Price

Simon Property Group (NYSE:SPG) had its target price lifted by stock analysts at Barclays from $180.00 to $186.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective points to a potential upside of 2.34% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Argus reiterated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Piper Sandler increased their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Stifel Nicolaus upped their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Finally, Truist Financial increased their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $190.31.

Simon Property Group Stock Performance

Shares of SPG stock traded up $0.77 on Tuesday, reaching $181.76. The stock had a trading volume of 390,502 shares, compared to its average volume of 1,612,437. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a market capitalization of $59.34 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 12.73 and a beta of 1.50. The firm’s 50-day moving average is $180.71 and its two-hundred day moving average is $170.83. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company posted $3.05 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, research analysts expect that Simon Property Group will post 12.54 EPS for the current fiscal year.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the acquisition, the director owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary M. Rodkin bought 219 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares in the company, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,121 shares of company stock valued at $394,400 in the last three months. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. U S Wealth Group LLC. boosted its stake in shares of Simon Property Group by 1.8% during the 3rd quarter. U S Wealth Group LLC. now owns 15,149 shares of the real estate investment trust’s stock worth $2,843,000 after purchasing an additional 266 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Simon Property Group by 777.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 28,566 shares of the real estate investment trust’s stock worth $5,361,000 after acquiring an additional 25,311 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Simon Property Group by 16.1% during the 3rd quarter. NewEdge Advisors LLC now owns 33,033 shares of the real estate investment trust’s stock valued at $6,199,000 after purchasing an additional 4,589 shares in the last quarter. Adelante Capital Management LLC increased its position in shares of Simon Property Group by 22.1% during the third quarter. Adelante Capital Management LLC now owns 449,344 shares of the real estate investment trust’s stock worth $84,328,000 after acquiring an additional 81,342 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Simon Property Group by 6.3% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,029,829 shares of the real estate investment trust’s stock worth $191,397,000 after purchasing an additional 60,665 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.