Simon Property Group (NYSE:SPG) Price Target Raised to $181.00

Simon Property Group (NYSE:SPG) had its price objective upped by investment analysts at Truist Financial from $169.00 to $181.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price points to a potential downside of 0.87% from the company’s previous close.

Several other research firms have also issued reports on SPG. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Evercore ISI upped their price objective on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Barclays increased their target price on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Scotiabank boosted their price target on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Finally, Citigroup upped their price target on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $190.46.

Simon Property Group Stock Down 0.9%

SPG opened at $182.59 on Wednesday. The company has a market capitalization of $59.61 billion, a P/E ratio of 26.58, a P/E/G ratio of 8.98 and a beta of 1.37. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s fifty day moving average price is $180.74 and its two-hundred day moving average price is $173.95. Simon Property Group has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, analysts anticipate that Simon Property Group will post 12.54 EPS for the current year.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig purchased 195 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $36,260.25. Following the acquisition, the director directly owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Glyn Aeppel acquired 208 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,121 shares of company stock worth $394,400 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Stance Capital LLC acquired a new stake in Simon Property Group in the 3rd quarter valued at about $26,000. Trust Co. of Toledo NA OH acquired a new position in shares of Simon Property Group during the second quarter worth approximately $25,000. Silicon Valley Capital Partners bought a new stake in shares of Simon Property Group during the second quarter valued at approximately $30,000. VSM Wealth Advisory LLC acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $30,000. Finally, Atlantic Union Bankshares Corp raised its position in Simon Property Group by 143.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 123 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

About Simon Property Group

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.