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

Simon Property Group (NYSE:SPG) had its price objective hoisted by stock analysts at Scotiabank from $173.00 to $186.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 1.83% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Stifel Nicolaus boosted their target price on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Truist Financial upped their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $189.85.

Simon Property Group Trading Down 0.5%

Shares of Simon Property Group stock opened at $182.66 on Thursday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.13. The firm has a market cap of $59.64 billion, a PE ratio of 28.23, a PEG ratio of 12.73 and a beta of 1.50. The company has a 50 day simple moving average of $180.74 and a two-hundred day simple moving average of $170.48.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Analysts expect that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the purchase, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stefan M. Selig purchased 195 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director owned 32,076 shares in the company, valued at $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,121 shares of company stock worth $394,400 over the last ninety days. 8.60% of the stock is owned by company insiders.

Institutional Trading of Simon Property Group

Several institutional investors and hedge funds have recently bought and sold shares of SPG. Trust Co. of Toledo NA OH bought a new position in shares of Simon Property Group in the 2nd quarter worth approximately $25,000. Richardson Financial Services Inc. grew its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the period. VSM Wealth Advisory LLC bought a new position in Simon Property Group in the second quarter worth $30,000. Silicon Valley Capital Partners bought a new position in Simon Property Group in the second quarter worth $30,000. Finally, Bell Investment Advisors Inc lifted its position in Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 146 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

About Simon Property Group

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.