Simon Property Group, Inc. (NYSE:SPG) Stock Has Consensus Target Price of $230.10 According to Analysts

Key Points

• Analyst sentiment is neutral: 22 firms rate Simon Property Group “Hold” on average (13 holds, 9 buys), with a consensus 12-month price target of $230.10.
• Quarterly results topped expectations: The REIT reported EPS of $3.37 versus a $1.69 consensus and revenue of $1.81 billion, up 13.3% year over year.
• The quarterly dividend increased to $2.30 per share from $2.25, equivalent to $9.20 annually and a 3.9% yield.

Shares of Simon Property Group, Inc. (NYSE:SPG - Get Free Report) have earned an average recommendation of "Hold" from the twenty-two research firms that are currently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $230.10.

A number of research firms have weighed in on SPG. Ladenburg Thalmann & Co. Inc. boosted their target price on shares of Simon Property Group from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Truist Financial initiated coverage on Simon Property Group in a research report on Friday, October 2nd. They issued a "hold" rating and a $215.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of Simon Property Group from $278.00 to $252.00 and set a "buy" rating for the company in a report on Monday, October 12th. Piper Sandler cut their target price on shares of Simon Property Group from $285.00 to $254.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Finally, The Goldman Sachs Group decreased their price target on shares of Simon Property Group from $242.00 to $228.00 in a research report on Wednesday, October 7th.

Simon Property Group Price Performance

NYSE:SPG traded down $0.45 during trading hours on Friday, reaching $233.16. 915,349 shares of the company were exchanged, compared to its average volume of 1,367,728. The business has a 50 day moving average of $210.16 and a 200 day moving average of $207.98. Simon Property Group has a 1-year low of $177.88 and a 1-year high of $238.50. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.74 and a quick ratio of 1.05. The company has a market capitalization of $75.44 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.57 and a beta of 1.27.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $1.69 by $1.68. Simon Property Group had a net margin of 63.08% and a return on equity of 78.14%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned $3.22 earnings per share. The company's revenue was up 13.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. Research analysts forecast that Simon Property Group will post 13.35 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be paid a $2.30 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, December 10th. Simon Property Group's payout ratio is presently 66.38%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 480 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, with a total value of $97,334.40. Following the transaction, the director owned 56,277 shares of the company's stock, valued at $11,411,850.06. This trade represents a 0.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel C. Smith purchased 350 shares of the stock in a transaction on Wednesday, September 30th. The shares were purchased at an average price of $202.78 per share, with a total value of $70,973.00. Following the acquisition, the director owned 34,830 shares in the company, valued at approximately $7,062,827.40. The trade was a 1.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 1,668 shares of company stock worth $338,237 over the last 90 days. Company insiders own 8.73% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Simon Property Group by 1.2% during the 2nd quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust's stock valued at $8,335,255,000 after purchasing an additional 455,543 shares in the last quarter. Wellington Management Group LLP increased its holdings in Simon Property Group by 2.7% in the second quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust's stock worth $2,100,146,000 after purchasing an additional 242,709 shares in the last quarter. Bank of America Corp DE lifted its stake in Simon Property Group by 6.1% in the first quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust's stock valued at $1,586,089,000 after buying an additional 491,519 shares during the period. Dimensional Fund Advisors LP lifted its stake in Simon Property Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,606,481 shares of the real estate investment trust's stock valued at $859,209,000 after buying an additional 105,524 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Simon Property Group by 13,579.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,604,590 shares of the real estate investment trust's stock worth $806,167,000 after buying an additional 3,578,240 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 is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment. The company's properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.

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