Simon Property Group (NYSE:SPG) Price Target Raised to $206.00 at Scotiabank

by · The Cerbat Gem

Simon Property Group (NYSE:SPG – Get Free Report) had its price objective boosted by equities research analysts at Scotiabank from $192.00 to $206.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 2.93% from the stock’s current price.

A number of other research analysts also recently weighed in on SPG. Weiss Ratings upgraded Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, May 4th. Evercore set a $207.00 price target on Simon Property Group in a research report on Tuesday, May 12th. Truist Financial increased their price objective on Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a report on Monday, March 2nd. UBS Group raised their price objective on Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Barclays boosted their target price on shares of Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a report on Tuesday. Five 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, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $205.07.

Check Out Our Latest Stock Analysis on Simon Property Group

Simon Property Group Stock Performance

Simon Property Group stock opened at $200.15 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The firm has a market cap of $65.04 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.62 and a beta of 1.33. Simon Property Group has a 1-year low of $155.44 and a 1-year high of $208.28. The firm has a 50-day moving average of $195.25 and a 200-day moving average of $190.29.

Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business posted $2.95 EPS. The business’s revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Sell-side analysts expect that Simon Property Group will post 13.2 EPS for the current year.

Simon Property Group announced that its board has approved a stock buyback plan on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Simon Property Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stance Capital LLC bought a new stake in shares of Simon Property Group during the 3rd quarter valued at $26,000. Wilkerson Advisory Group LLC purchased a new stake in Simon Property Group in the 4th quarter worth $29,000. SHP Wealth Management purchased a new stake in Simon Property Group in the 4th quarter worth $34,000. Atlantic Union Bankshares Corp raised its holdings in Simon Property Group by 143.0% during the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 123 shares during the period. Finally, Dynamic Wealth Strategies LLC lifted its position in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Company Profile

(Get Free Report)

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.

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