Simon Property Group (NYSE:SPG) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Simon Property Group (NYSE:SPG) in a research note issued to investors on Friday, MarketBeat reports. The firm set a “hold” rating and a $215.00 price target on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 6.61% from the company’s current price.

SPG has been the topic of a number of other reports. Scotiabank dropped their price objective on shares of Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 17th. Citigroup raised their target price on shares of Simon Property Group from $205.00 to $230.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. LADENBURG THALM/SH SH raised their target price on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Mizuho raised their target price on shares of Simon Property Group from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Finally, Stifel Nicolaus raised their target price on shares of Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $227.64.

Simon Property Group Stock Up 0.1%

Shares of NYSE SPG traded up $0.27 during midday trading on Friday, reaching $201.67. 1,398,485 shares of the company’s stock traded hands, compared to its average volume of 1,626,303. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. The stock’s 50 day simple moving average is $213.26 and its 200-day simple moving average is $209.70. Simon Property Group has a one year low of $172.19 and a one year high of $238.50. The company has a market cap of $65.25 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 3.10 and a beta of 1.30.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $1.70 earnings per share. Simon Property Group’s revenue for the quarter was up 19.5% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. On average, analysts predict that Simon Property Group will post 13.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marta R. Stewart purchased 199 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of $202.78 per share, with a total value of $40,353.22. Following the completion of the acquisition, the director owned 18,199 shares in the company, valued at approximately $3,690,393.22. This represents a 1.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gary M. Rodkin purchased 232 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was bought at an average cost of $202.78 per share, with a total value of $47,044.96. Following the acquisition, the director owned 21,248 shares of the company’s stock, valued at approximately $4,308,669.44. The trade was a 1.10% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 1,668 shares of company stock valued at $338,237. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SPG. Ancora Advisors LLC purchased a new position in shares of Simon Property Group in the second quarter worth $27,000. Osbon Capital Management LLC purchased a new position in shares of Simon Property Group in the second quarter worth $32,000. SHP Wealth Management purchased a new position in shares of Simon Property Group in the fourth quarter worth $34,000. Fiduciary Financial Advisors purchased a new position in shares of Simon Property Group in the second quarter worth $34,000. Finally, Dynamic Wealth Strategies LLC raised its holdings in shares of Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 139 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 real estate investment trust that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve consumers and attract national and international retailers.

The company generates revenue primarily through leasing retail and commercial space to tenants and through related property-management and development activities.