Simon Property Group (NYSE:SPG) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• Simon Property Group (NYSE:SPG) maintains a "Buy (B)" rating by Weiss Ratings, signaling strong investor confidence in the stock.
• Several analysts have varying target prices for SPG, with a consensus price target of $187.23 and ratings ranging from "buy" to "hold."
• SPG reported earnings of $3.05 per share for the last quarter, exceeding estimates and reflecting a 13.9% increase in revenue year-over-year.

Simon Property Group (NYSE:SPG - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on SPG. Evercore ISI reiterated an "in-line" rating and issued a $187.00 price target (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Argus reiterated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. raised their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Finally, Piper Sandler lifted their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $187.23.

Simon Property Group Trading Down 0.3%

SPG stock traded down $0.58 during midday trading on Tuesday, hitting $175.92. The company had a trading volume of 763,923 shares, compared to its average volume of 1,647,124. The stock has a market cap of $57.44 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 10.62 and a beta of 1.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock's 50 day moving average price is $178.38 and its 200 day moving average price is $166.03. Simon Property Group has a 52 week low of $136.34 and a 52 week high of $190.13.

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

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of the stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the acquisition, the director directly owned 43,536 shares of the company's stock, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Gary M. Rodkin acquired 219 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares in the company, valued at approximately $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,163 shares of company stock valued at $401,605. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPG. Capital Advisors Inc. OK grew its position in Simon Property Group by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust's stock worth $63,300,000 after purchasing an additional 2,064 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in Simon Property Group in the 2nd quarter valued at $283,000. Focus Partners Wealth grew its holdings in shares of Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust's stock worth $18,959,000 after purchasing an additional 53,764 shares during the last quarter. Golden State Wealth Management LLC raised its position in Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 509 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock worth $5,358,000 after buying an additional 1,750 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

About Simon Property Group

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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