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

Simon Property Group (NYSE:SPG) had its price objective boosted by Truist Financial from $169.00 to $181.00 in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on SPG. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Evercore ISI boosted their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Barclays upped their price objective on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Citigroup raised their target price on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, 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 report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.46.

Simon Property Group Trading Down 0.3%

NYSE SPG opened at $184.60 on Wednesday. Simon Property Group has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock has a 50-day moving average of $181.16 and a 200-day moving average of $174.25. The firm has a market cap of $60.27 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 9.02 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $3.05 EPS. Simon Property Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, sell-side analysts forecast that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $2.20 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s payout ratio is currently 128.09%.

Insiders Place Their Bets

In other news, Director Daniel C. Smith acquired 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the transaction, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 2,121 shares of company stock valued at $394,400 over the last ninety days. 8.66% of the stock is owned by corporate insiders.

Institutional Trading of Simon Property Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in Simon Property Group during the 3rd quarter valued at approximately $150,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Simon Property Group in the third quarter worth $375,000. Saranac Partners Ltd bought a new position in shares of Simon Property Group during the third quarter valued at $108,000. Allworth Financial LP raised its position in shares of Simon Property Group by 0.3% in the 3rd quarter. Allworth Financial LP now owns 21,066 shares of the real estate investment trust’s stock worth $3,953,000 after purchasing an additional 72 shares during the last quarter. Finally, Stillwater Wealth Management Group bought a new position in Simon Property Group in the 3rd quarter worth about $276,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.