Simon Property Group (NYSE:SPG) Price Target Raised to $193.00

Simon Property Group (NYSE:SPG) had its target price lifted by Barclays from $188.00 to $193.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on SPG. Deutsche Bank Aktiengesellschaft raised Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Evercore increased their price target on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 3rd. Citigroup upped their price objective on Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. lifted their target price on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $199.36.

Simon Property Group Trading Up 0.6%

Shares of SPG stock opened at $203.26 on Monday. The stock has a market cap of $66.36 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 6.65 and a beta of 1.36. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $205.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42. The stock has a 50 day simple moving average of $191.48 and a 200 day simple moving average of $184.73.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.50 billion. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, research analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group announced that its board has authorized a share buyback program on Thursday, February 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $2.20 per share. The ex-dividend date is Tuesday, March 10th. This represents a $8.80 annualized dividend and a yield of 4.3%. Simon Property Group’s dividend payout ratio (DPR) is currently 62.06%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the completion of the acquisition, the director directly owned 53,639 shares of the company’s stock, valued at approximately $9,976,854. This trade represents a 0.90% 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 bought 363 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the acquisition, the director directly owned 43,899 shares in the company, valued at approximately $8,165,214. This trade represents a 0.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 2,192 shares of company stock worth $407,712. 8.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in SPG. Norges Bank acquired a new stake in Simon Property Group during the 2nd quarter valued at approximately $1,051,262,000. Wellington Management Group LLP lifted its position in shares of Simon Property Group by 634.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after purchasing an additional 6,366,711 shares during the period. Capital World Investors boosted its stake in shares of Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock valued at $1,573,450,000 after purchasing an additional 2,600,508 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Simon Property Group by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after buying an additional 1,660,188 shares during the period. Finally, Vanguard Group Inc. raised its stake in Simon Property Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after buying an additional 844,190 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.