Scotiabank Forecasts Strong Price Appreciation for Simon Property Group (NYSE:SPG) Stock

Simon Property Group (NYSE:SPG) had its target price increased by stock analysts at Scotiabank from $189.00 to $192.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 5.74% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Citigroup upped their price objective on Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. 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 report on Tuesday, January 20th. Evercore lifted their target price on Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. Finally, Stifel Nicolaus boosted their price target on Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, February 3rd. Five 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 stock has an average rating of “Hold” and an average target price of $199.57.

Simon Property Group Trading Up 1.9%

NYSE SPG opened at $181.58 on Tuesday. The company has a market cap of $59.00 billion, a P/E ratio of 12.81, a P/E/G ratio of 5.87 and a beta of 1.36. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $205.12. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average of $192.45 and a 200-day moving average of $185.87.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company earned $3.68 earnings per share. The company’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. As a group, equities analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group declared that its Board of Directors has approved a share buyback plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin purchased 226 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, with a total value of $42,036.00. Following the transaction, the director owned 19,455 shares in the company, valued at approximately $3,618,630. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock purchased 363 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $186.00 per share, with a total value of $67,518.00. Following the completion of the acquisition, the director owned 43,899 shares in the company, valued at $8,165,214. This represents a 0.83% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 2,192 shares of company stock worth $407,712. Corporate insiders own 8.66% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently modified their holdings of SPG. Federated Hermes Inc. boosted its position in Simon Property Group by 68.8% in the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after buying an additional 50,932 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Simon Property Group by 15.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after acquiring an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Simon Property Group during the third quarter worth about $3,598,000. National Pension Service lifted its stake in shares of Simon Property Group by 3.2% in the third quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after acquiring an additional 33,758 shares in the last quarter. Finally, Aew Capital Management L P lifted its stake in shares of Simon Property Group by 90.9% in the third quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock worth $99,494,000 after acquiring an additional 252,510 shares in 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.