Simon Property Group (NYSE:SPG) Price Target Raised to $217.00

Simon Property Group (NYSE:SPG) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $210.00 to $217.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.76% from the stock’s previous close.

Several other brokerages also recently issued reports on SPG. Evercore set a $207.00 target price on shares of Simon Property Group in a research note on Tuesday, May 12th. Citigroup lifted their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Scotiabank lifted their price objective on shares of Simon Property Group from $192.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 19th. Truist Financial lifted their price objective on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Finally, Stifel Nicolaus boosted 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $205.57.

Simon Property Group Stock Down 0.8%

Shares of NYSE:SPG traded down $1.65 during mid-day trading on Monday, reaching $203.26. 613,903 shares of the stock were exchanged, compared to its average volume of 1,581,193. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group has a one year low of $155.44 and a one year high of $208.79. The stock’s 50 day simple moving average is $197.87 and its 200-day simple moving average is $191.93. The company has a market cap of $65.91 billion, a P/E ratio of 14.13, a P/E/G ratio of 3.71 and a beta of 1.31.

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

Simon Property Group declared that its board has initiated a stock buyback plan on Thursday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPG. Wellington Management Group LLP raised its position in Simon Property Group by 634.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock worth $1,383,145,000 after purchasing an additional 6,366,711 shares during the last quarter. Norges Bank bought a new position in Simon Property Group during the 4th quarter worth $1,112,111,000. Capital World Investors lifted its position in shares of Simon Property Group by 45.0% in the 3rd quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust’s stock worth $1,573,450,000 after purchasing an additional 2,600,508 shares during the period. Vanguard Group Inc. lifted its position in shares of Simon Property Group by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 46,683,502 shares of the real estate investment trust’s stock worth $8,761,093,000 after purchasing an additional 844,190 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Simon Property Group by 6.1% in the 1st quarter. Bank of America Corp DE now owns 8,503,133 shares of the real estate investment trust’s stock worth $1,586,089,000 after purchasing an additional 491,519 shares during the period. 93.01% of the stock is owned by institutional investors.

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.