Scotiabank Increases Simon Property Group (NYSE:SPG) Price Target to $206.00

Simon Property Group (NYSE:SPG) had its price target increased by equities researchers at Scotiabank from $192.00 to $206.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 2.93% from the stock’s current price.

Other equities analysts have also issued reports about the company. UBS Group increased their price target on Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus upped their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Evercore set a $207.00 target price on shares of Simon Property Group in a report on Tuesday, May 12th. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $205.07.

Simon Property Group Stock Performance

SPG opened at $200.15 on Tuesday. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $65.04 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 3.62 and a beta of 1.33. The company has a fifty day moving average of $195.25 and a 200 day moving average of $190.29. Simon Property Group has a fifty-two week low of $155.44 and a fifty-two week high of $208.28.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, sell-side analysts forecast that Simon Property Group will post 13.2 earnings per share for the current fiscal year.

Simon Property Group announced that its board has authorized a share repurchase program 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Simon Property Group

A number of large investors have recently made changes to their positions in the stock. Stance Capital LLC purchased a new position in Simon Property Group in the 3rd quarter worth about $26,000. Wilkerson Advisory Group LLC bought a new position in Simon Property Group in the 4th quarter worth about $29,000. SHP Wealth Management bought a new position in Simon Property Group in the 4th quarter worth about $34,000. Atlantic Union Bankshares Corp increased its position in shares of Simon Property Group by 143.0% during the third quarter. Atlantic Union Bankshares Corp now owns 209 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 123 shares during the period. Finally, Dynamic Wealth Strategies LLC raised its stake in shares of Simon Property Group by 195.8% during the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.