Truist Financial Boosts Simon Property Group (NYSE:SPG) Price Target to $215.00

Simon Property Group (NYSE:SPG) had its price objective raised by analysts at Truist Financial from $196.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential downside of 0.74% from the company’s previous close.

A number of other brokerages have also recently issued reports on SPG. Morgan Stanley lifted their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a research report on Monday, June 1st. Barclays raised their price objective on shares of Simon Property Group from $201.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Weiss Ratings upgraded Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Finally, Citigroup upped their target price on Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $209.64.

Simon Property Group Price Performance

SPG stock traded up $2.04 during midday trading on Tuesday, hitting $216.60. 434,119 shares of the stock were exchanged, compared to its average volume of 1,671,825. The stock’s 50-day moving average price is $205.54 and its 200-day moving average price is $195.00. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $70.24 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 3.82 and a beta of 1.31. Simon Property Group has a fifty-two week low of $157.05 and a fifty-two week high of $220.43.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company earned $2.95 earnings per share. Simon Property Group’s revenue was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Research analysts predict that Simon Property Group will post 13.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPG. Vanguard Group Inc. grew its position in shares of Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after purchasing an additional 286,464 shares during the period. State Street Corp increased its stake in Simon Property Group by 1.5% in the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after purchasing an additional 312,995 shares during the last quarter. Geode Capital Management LLC lifted its position in Simon Property Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock worth $1,950,967,000 after buying an additional 363,337 shares during the period. Capital World Investors boosted its stake in Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock worth $1,593,872,000 after buying an additional 226,271 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after buying an additional 491,519 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.