Simon Property Group (NYSE:SPG) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Analysts at Piper Sandler increased their target price for Simon Property Group stock from $200 to $210, implying a potential upside of 15.55% from its previous close.
• Several research firms have issued ratings for Simon Property Group, with four analysts suggesting a "buy" and nine assigning a "hold," while the consensus target price stands at $186.46.
• The company reported earnings per share (EPS) of $3.05 for the last quarter, slightly exceeding analysts' expectations, with quarterly revenue showing a 13.9% year-over-year increase.

Simon Property Group (NYSE:SPG - Get Free Report) had its target price increased by investment analysts at Piper Sandler from $200.00 to $210.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price target suggests a potential upside of 15.55% from the stock's previous close.

Several other research firms have also recently weighed in on SPG. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target on the stock. Morgan Stanley raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. JPMorgan Chase & Co. raised their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Mizuho decreased their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Finally, Evercore ISI reissued an "in-line" rating and set a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a report on Monday. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $186.46.

Simon Property Group Stock Performance

Shares of SPG opened at $181.74 on Thursday. The stock's 50-day simple moving average is $171.85 and its 200 day simple moving average is $164.38. The stock has a market capitalization of $59.34 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 10.99 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 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 issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the firm posted $2.90 EPS. The firm's quarterly 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. Research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel purchased 234 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the transaction, the director directly owned 19,057 shares in the company, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel C. Smith purchased 378 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $60,211.62. Following the completion of the transaction, the director owned 31,998 shares in the company, valued at $5,096,961.42. The trade was a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 over the last quarter. Company insiders own 8.66% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Silicon Valley Capital Partners bought a new stake in shares of Simon Property Group in the 2nd quarter worth approximately $30,000. Evolution Wealth Management Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth approximately $51,000. Centaurus Financial Inc. grew its position in shares of Simon Property Group by 17.2% in 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 during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth approximately $786,000. Finally, Newbridge Financial Services Group Inc. grew its position 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 worth $149,000 after buying an additional 81 shares during the last quarter. 93.01% of the stock is currently 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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