Simon Property Group (NYSE:SPG) Coverage Initiated by Analysts at Truist Financial

Equities researchers at Truist Financial began coverage on shares of Simon Property Group (NYSE:SPG) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set a “hold” rating and a $215.00 price target on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 8.05% from the stock’s previous close.

A number of other research analysts also recently commented on SPG. Wolfe Research downgraded Simon Property Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 30th. Bank of America increased their price objective on Simon Property Group from $225.00 to $236.00 and gave the company a “buy” rating in a report on Monday, June 29th. Evercore set a $216.00 price target on Simon Property Group in a research note on Monday, September 21st. Stifel Nicolaus raised their price target on Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Finally, Citigroup raised their price target on Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $227.64.

Simon Property Group Stock Down 1.4%

NYSE SPG traded down $2.75 during trading hours on Friday, hitting $198.99. 226,138 shares of the company were exchanged, compared to its average volume of 1,618,843. The company has a 50 day moving average of $213.26 and a two-hundred day moving average of $209.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group has a 52-week low of $172.19 and a 52-week high of $238.50. The firm has a market cap of $64.39 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 3.10 and a beta of 1.30.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company earned $1.70 EPS. Simon Property Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Equities research analysts anticipate that Simon Property Group will post 13.23 earnings per share for the current year.

Insiders Place Their Bets

In other Simon Property Group news, Director Marta R. Stewart purchased 199 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $202.78 per share, with a total value of $40,353.22. Following the acquisition, the director directly owned 18,199 shares of the company’s stock, valued at $3,690,393.22. This represents a 1.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 232 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $202.78 per share, with a total value of $47,044.96. Following the completion of the acquisition, the director directly owned 21,248 shares in the company, valued at approximately $4,308,669.44. This trade represents a 1.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 1,668 shares of company stock worth $338,237. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of Simon Property Group

Hedge funds have recently modified their holdings of the business. Corient Private Wealth LP grew its position in Simon Property Group by 64.3% during the second quarter. Corient Private Wealth LP now owns 87,140 shares of the real estate investment trust’s stock valued at $19,489,000 after acquiring an additional 34,112 shares during the period. Mystic Asset Management Inc. purchased a new stake in Simon Property Group during the second quarter valued at about $2,234,000. Saudi Central Bank grew its position in Simon Property Group by 88.7% during the second quarter. Saudi Central Bank now owns 22,739 shares of the real estate investment trust’s stock valued at $5,086,000 after acquiring an additional 10,689 shares during the period. Nykredit A S purchased a new stake in Simon Property Group during the second quarter valued at about $25,186,000. Finally, Chilton Capital Management LLC grew its position in Simon Property Group by 596.3% during the second quarter. Chilton Capital Management LLC now owns 46,999 shares of the real estate investment trust’s stock valued at $10,511,000 after acquiring an additional 40,249 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.