Scotiabank Increases Simon Property Group (NYSE:SPG) Price Target to $192.00

Simon Property Group (NYSE:SPG) had its target price raised by Scotiabank from $189.00 to $192.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 5.76% from the company’s current price.

A number of other research analysts have also recently issued reports on SPG. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Tuesday, January 20th. Piper Sandler reissued an “overweight” rating and issued a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Mizuho set a $192.00 target price on Simon Property Group in a report on Friday, January 9th. Truist Financial lifted their target price on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley set a $205.00 price target on Simon Property Group in a report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $199.57.

Simon Property Group Stock Up 0.0%

Simon Property Group stock traded up $0.05 during mid-day trading on Tuesday, reaching $181.54. The stock had a trading volume of 839,629 shares, compared to its average volume of 1,669,488. The firm has a market capitalization of $58.99 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 6.08 and a beta of 1.35. Simon Property Group has a fifty-two week low of $136.34 and a fifty-two week high of $205.12. The stock’s 50-day simple moving average is $192.66 and its 200-day simple moving average is $185.93. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.50 billion. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.Simon Property Group’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.68 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, sell-side analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Simon Property Group

In related news, Director Stefan M. Selig purchased 201 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, for a total transaction of $37,386.00. Following the completion of the transaction, the director owned 32,277 shares in the company, valued at $6,003,522. This represents a 0.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel acquired 216 shares of the stock in a transaction on Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the transaction, the director owned 19,481 shares of the company’s stock, valued at approximately $3,623,466. This trade represents a 1.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 2,192 shares of company stock worth $407,712. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Simon Property Group

A number of hedge funds have recently modified their holdings of SPG. Great Valley Advisor Group Inc. increased its position in Simon Property Group by 2.3% in the fourth quarter. Great Valley Advisor Group Inc. now owns 2,360 shares of the real estate investment trust’s stock worth $437,000 after buying an additional 52 shares during the last quarter. Veridan Wealth LLC lifted its position in shares of Simon Property Group by 1.2% during the 4th quarter. Veridan Wealth LLC now owns 4,563 shares of the real estate investment trust’s stock valued at $845,000 after buying an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC grew its stake in shares of Simon Property Group by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 936 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 55 shares during the period. Embree Financial Group grew its stake in shares of Simon Property Group by 2.4% during the 4th quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust’s stock worth $447,000 after acquiring an additional 56 shares during the period. Finally, O ROURKE & COMPANY Inc increased its holdings in Simon Property Group by 2.8% in the 4th quarter. O ROURKE & COMPANY Inc now owns 2,124 shares of the real estate investment trust’s stock worth $393,000 after acquiring an additional 57 shares during the last quarter. 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.