Simon Property Group's (SPG) In-Line Rating Reaffirmed at Evercore ISI

Key Points

• Simon Property Group's stock was reaffirmed with an "in-line" rating by Evercore ISI, with a price target of $187.00, suggesting a potential upside of 2.37% from its current price.
• Multiple research firms have varied opinions on SPG, with four analysts rating it as a Buy and nine as Hold, reflecting a consensus average target price of $185.69.
• The company reported quarterly earnings of $3.05 per share, slightly exceeding analyst estimates, and experienced a revenue increase of 13.9% compared to the same quarter last year.

Simon Property Group (NYSE:SPG - Get Free Report)'s stock had its "in-line" rating reissued by research analysts at Evercore ISI in a note issued to investors on Monday, MarketBeat reports. They currently have a $187.00 price target on the real estate investment trust's stock. Evercore ISI's price objective indicates a potential upside of 2.37% from the stock's current price.

Several other research firms have also recently commented on SPG. JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Mizuho dropped their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Argus reissued a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Scotiabank upped their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $185.69.

Simon Property Group Price Performance

Shares of SPG opened at $182.68 on Monday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $59.64 billion, a PE ratio of 28.23, a P/E/G ratio of 11.05 and a beta of 1.50. The firm has a 50-day simple moving average of $170.73 and a two-hundred day simple moving average of $164.16. Simon Property Group has a 1-year low of $136.34 and a 1-year high of $190.13.

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

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 522 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glyn Aeppel bought 234 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares in the company, valued at $3,035,589.53. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 2,428 shares of company stock worth $387,271 in the last 90 days. Insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPG. Brighton Jones LLC purchased a new position in shares of Simon Property Group during the 4th quarter worth about $295,000. Toronto Dominion Bank lifted its holdings in shares of Simon Property Group by 7.0% during the 4th quarter. Toronto Dominion Bank now owns 166,671 shares of the real estate investment trust's stock worth $28,702,000 after acquiring an additional 10,966 shares during the period. Tidal Investments LLC lifted its holdings in shares of Simon Property Group by 6.8% during the 4th quarter. Tidal Investments LLC now owns 20,931 shares of the real estate investment trust's stock worth $3,605,000 after acquiring an additional 1,335 shares during the period. Texas Bank & Trust Co purchased a new position in shares of Simon Property Group during the 4th quarter worth about $216,000. Finally, Waters Parkerson & CO. LLC lifted its holdings in shares of Simon Property Group by 1.1% during the 4th quarter. Waters Parkerson & CO. LLC now owns 36,146 shares of the real estate investment trust's stock worth $6,225,000 after acquiring an additional 391 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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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