Scotiabank Issues Positive Forecast for Simon Property Group (NYSE:SPG) Stock Price

Simon Property Group (NYSE:SPG) had its price objective raised by research analysts at Scotiabank from $173.00 to $186.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 1.39% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Argus reissued a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Morgan Stanley upped their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $189.85.

Simon Property Group Trading Down 0.2%

Shares of NYSE:SPG traded down $0.37 during mid-day trading on Thursday, reaching $183.44. The stock had a trading volume of 667,212 shares, compared to its average volume of 1,618,859. Simon Property Group has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market cap of $59.89 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The firm has a 50 day simple moving average of $180.69 and a two-hundred day simple moving average of $170.22.

Simon Property Group (NYSE:SPG) last announced its earnings results 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. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm 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. On average, research analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Larry C. Glasscock purchased 351 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the acquisition, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stefan M. Selig bought 195 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the purchase, the director owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. The trade was a 0.61% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 2,121 shares of company stock valued at $394,400 over the last ninety days. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. 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. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 111 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Simon Property Group in the 2nd quarter valued at $30,000. Silicon Valley Capital Partners purchased a new position in shares of Simon Property Group during the second quarter worth $30,000. Finally, Bell Investment Advisors Inc boosted its holdings in Simon Property Group by 205.6% in the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

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.