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

Key Points

• Morgan Stanley has increased its target price for Simon Property Group (SPG) from $170.00 to $180.00 while maintaining an "equal weight" rating on the stock, indicating a potential downside of just 0.37% from the current price.
• The consensus rating for Simon Property Group among analysts is "Hold," with an average price target of $184.54, following mixed ratings from various firms.
• Insiders have recently been buying shares, with a total of 2,428 shares purchased worth approximately $387,271 in the last three months, highlighting confidence in the company's future prospects.

Simon Property Group (NYSE:SPG - Get Free Report) had its target price increased by research analysts at Morgan Stanley from $170.00 to $180.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price target would indicate a potential downside of 0.37% from the company's current price.

SPG has been the topic of a number of other reports. Mizuho reduced their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a report on Tuesday, September 2nd. Finally, Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $184.54.

Simon Property Group Trading Up 0.8%

Shares of SPG stock opened at $180.67 on Thursday. The stock has a fifty day simple moving average of $170.05 and a two-hundred day simple moving average of $164.43. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.13. The firm has a market capitalization of $58.99 billion, a PE ratio of 27.88, a PEG ratio of 10.86 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. The business's revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Glyn Aeppel acquired 234 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock acquired 396 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $63,078.84. Following the transaction, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,428 shares of company stock worth $387,271 in the last three months. 8.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently made changes to their positions in the stock. Evolution Wealth Management Inc. acquired a new stake in Simon Property Group during the 2nd quarter worth approximately $51,000. Centaurus Financial Inc. lifted its holdings in Simon Property Group by 17.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,124 shares of the real estate investment trust's stock worth $181,000 after buying an additional 165 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at $786,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Simon Property Group by 9.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 924 shares of the real estate investment trust's stock valued at $149,000 after purchasing an additional 81 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Simon Property Group by 3.2% during the 2nd quarter. Advisory Services Network LLC now owns 22,650 shares of the real estate investment trust's stock worth $3,710,000 after acquiring an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Company Profile

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.

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