Truist Financial Raises Simon Property Group (NYSE:SPG) Price Target to $196.00

Simon Property Group (NYSE:SPG) had its price objective lifted by equities researchers at Truist Financial from $181.00 to $196.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential downside of 3.15% from the stock’s previous close.

A number of other brokerages have also weighed in on SPG. Morgan Stanley set a $205.00 target price on Simon Property Group in a research report on Friday, January 16th. JPMorgan Chase & Co. upped their target price on shares of Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $230.00 price objective (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Finally, Evercore raised their price target 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. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $199.36.

Simon Property Group Price Performance

Shares of SPG stock traded down $1.48 on Monday, reaching $202.37. The company’s stock had a trading volume of 93,241 shares, compared to its average volume of 1,600,829. The company has a market capitalization of $66.07 billion, a P/E ratio of 14.27, a PEG ratio of 6.73 and a beta of 1.39. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 4.42. The stock’s 50 day simple moving average is $190.56 and its 200-day simple moving average is $184.18. Simon Property Group has a 12-month low of $136.34 and a 12-month high of $205.12.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 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 company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $3.68 earnings per share. The firm’s revenue for the quarter 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 fiscal year.

Simon Property Group announced that its board has authorized a stock buyback plan on Thursday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, with a total value of $89,280.00. Following the purchase, the director owned 53,639 shares in the company, valued at approximately $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stefan M. Selig acquired 201 shares of the stock in a transaction dated Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, with a total value of $37,386.00. Following the completion of the transaction, the director owned 32,277 shares of the company’s stock, valued at approximately $6,003,522. This represents a 0.63% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 2,192 shares of company stock worth $407,712. Insiders own 8.66% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

A number of large investors have recently bought and sold shares of the company. Stance Capital LLC purchased a new stake in Simon Property Group during the third quarter worth $26,000. Wilkerson Advisory Group LLC purchased a new stake in Simon Property Group in the 4th quarter worth approximately $29,000. Silicon Valley Capital Partners acquired a new position in Simon Property Group in the 2nd quarter valued at $30,000. VSM Wealth Advisory LLC purchased a new position in Simon Property Group during the second quarter worth about $30,000. Finally, Bell Investment Advisors Inc boosted its stake in Simon Property Group by 205.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors 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.