Simon Property Group (NYSE:SPG) Price Target Raised to $169.00

Key Points

• Truist Financial has raised its price target for Simon Property Group from $168.00 to $169.00 while maintaining a "hold" rating, suggesting a potential downside of 4.13% from the stock's previous close.
• The company's recent earnings report showed an EPS of $3.05, exceeding estimates and marking a 13.9% year-over-year revenue growth.
• Currently, Simon Property Group has an average analyst rating of "Hold" with a target price of $184.00, and insiders have recently purchased shares, signaling confidence in the stock.

Simon Property Group (NYSE:SPG - Get Free Report) had its price target hoisted by research analysts at Truist Financial from $168.00 to $169.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price would suggest a potential downside of 4.13% from the stock's previous close.

SPG has been the subject of several other research reports. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday. Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Finally, Piper Sandler reduced their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $184.00.

Simon Property Group Stock Performance

Shares of SPG traded down $0.2760 during mid-day trading on Monday, hitting $176.2840. The stock had a trading volume of 98,676 shares, compared to its average volume of 1,610,709. The company has a market cap of $57.56 billion, a PE ratio of 27.24, a PEG ratio of 10.67 and a beta of 1.48. The company's fifty day simple moving average is $164.80 and its two-hundred day simple moving average is $164.57. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

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

Insiders Place Their Bets

In related news, Director Stefan M. Selig bought 219 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $34,884.51. Following the completion of the transaction, the director directly owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larry C. Glasscock bought 396 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,428 shares of company stock valued at $387,271. 8.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Colonial Trust Co SC raised its position in Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares during the period. Legacy Wealth Asset Management LLC grew its stake in Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust's stock valued at $2,213,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC increased its position in Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares during the last quarter. Wedmont Private Capital increased its position in Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock worth $1,147,000 after purchasing an additional 68 shares during the last quarter. Finally, PFS Partners LLC increased its position in Simon Property Group by 13.6% in the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 68 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

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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