Brokerages Set Simon Property Group, Inc. (NYSE:SPG) Price Target at $189.93

Simon Property Group, Inc. (NYSE:SPG) has been given an average recommendation of “Hold” by the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $189.9286.

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Scotiabank upped their target price on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Evercore ISI boosted their price target 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. 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.

Simon Property Group Price Performance

Shares of SPG opened at $182.10 on Friday. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $59.45 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The business has a 50-day moving average of $181.10 and a 200-day moving average of $172.42.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm posted $3.05 EPS. The company’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, equities research analysts anticipate that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Insider Buying and Selling

In other news, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary M. Rodkin acquired 219 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $40,723.05. Following the purchase, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,121 shares of company stock worth $394,400 over the last 90 days. 8.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPG. Trust Co. of Toledo NA OH acquired a new position in shares of Simon Property Group during the second quarter valued at about $25,000. Stance Capital LLC bought a new position in Simon Property Group in the 3rd quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new position in Simon Property Group during the 2nd quarter valued at about $30,000. Silicon Valley Capital Partners acquired a new position in Simon Property Group during the 2nd quarter valued at about $30,000. Finally, Bell Investment Advisors Inc increased its holdings in Simon Property Group by 205.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 146 shares in 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.