Simon Property Group (NYSE:SPG) Price Target Raised to $196.00

Simon Property Group (NYSE:SPG) had its price objective hoisted by Truist Financial from $181.00 to $196.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other research analysts have also commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Tuesday, January 20th. Stifel Nicolaus lifted their price target on Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, February 3rd. Mizuho set a $192.00 price objective on Simon Property Group in a report on Friday, January 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a research report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.36.

Simon Property Group Stock Up 0.6%

SPG opened at $203.26 on Monday. The firm has a market capitalization 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 one year low of $136.34 and a one year high of $205.12. The company has a fifty day moving average price of $191.48 and a 200-day moving average price of $184.73. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90.

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

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s payout ratio is 62.06%.

Simon Property Group announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Simon Property Group

In other news, Director Glyn Aeppel bought 216 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the acquisition, the director owned 19,481 shares of the company’s stock, valued at approximately $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel C. Smith bought 347 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, for a total transaction of $64,542.00. Following the completion of the purchase, the director owned 32,680 shares of the company’s stock, valued at $6,078,480. This trade represents a 1.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 2,192 shares of company stock worth $407,712 over the last quarter. Company insiders own 8.66% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently added to or reduced their stakes in SPG. Stance Capital LLC bought a new position in shares of Simon Property Group in the 3rd quarter worth about $26,000. Wilkerson Advisory Group LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $29,000. SHP Wealth Management bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Silicon Valley Capital Partners purchased a new position in shares of Simon Property Group during the second quarter valued at approximately $30,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Simon Property Group during the second quarter valued at approximately $30,000. Institutional investors own 93.01% of the company’s stock.

About Simon Property Group

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.