Simon Property Group (NYSE:SPG) Given New $196.00 Price Target at Truist Financial

Simon Property Group (NYSE:SPG) had its price objective lifted by equities research analysts at Truist Financial from $181.00 to $196.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential downside of 3.15% from the stock’s current price.

Several other brokerages have also recently commented on SPG. Evercore raised their target price on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a report on Tuesday, February 3rd. Citigroup raised their target price on Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Scotiabank increased their price objective on Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Stifel Nicolaus lifted their price objective on Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, February 3rd. Finally, Morgan Stanley set a $205.00 price target on Simon Property Group in a research note on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.36.

Simon Property Group Stock Performance

Simon Property Group stock traded down $1.48 during mid-day trading on Monday, reaching $202.37. The company’s stock had a trading volume of 93,241 shares, compared to its average volume of 1,600,829. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42. The business has a 50 day moving average price of $190.56 and a 200-day moving average price of $184.18. Simon Property Group has a twelve month low of $136.34 and a twelve month high of $205.12. The firm has a market cap of $66.07 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 6.73 and a beta of 1.39.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $3.68 EPS. Simon Property Group’s quarterly revenue was up 13.2% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. Sell-side analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

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

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin bought 226 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the completion of the acquisition, the director owned 19,455 shares in the company, valued at approximately $3,618,630. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glyn Aeppel purchased 216 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, with a total value of $40,176.00. Following the acquisition, the director directly owned 19,481 shares in the company, valued at $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,192 shares of company stock worth $407,712 over the last ninety days. 8.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simon Property Group

Several large investors have recently modified their holdings of SPG. Norges Bank bought a new stake in shares of Simon Property Group during the second quarter worth approximately $1,051,262,000. Wellington Management Group LLP grew its position in Simon Property Group by 634.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after acquiring an additional 6,366,711 shares during the last quarter. Capital World Investors raised its holdings in Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock valued at $1,573,450,000 after buying an additional 2,600,508 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Simon Property Group by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after acquiring an additional 1,660,188 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Simon Property Group by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after buying an additional 844,190 shares during the period. 93.01% of the stock is currently owned by institutional investors.

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.