Simon Property Group (NYSE:SPG) Given New $192.00 Price Target at Scotiabank

Simon Property Group (NYSE:SPG) had its price objective raised by equities research analysts at Scotiabank from $189.00 to $192.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 5.76% from the company’s current price.

Several other research firms also recently issued reports on SPG. UBS Group increased their target price on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Barclays lifted their price target on Simon Property Group from $188.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Morgan Stanley set a $205.00 price objective on Simon Property Group in a report on Friday, January 16th. Stifel Nicolaus raised their target price on Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, February 3rd. Finally, Evercore lifted their target price 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 equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $199.57.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $0.05 during midday trading on Tuesday, hitting $181.54. The company’s stock had a trading volume of 839,629 shares, compared to its average volume of 1,669,488. The stock has a fifty day moving average price of $192.66 and a 200 day moving average price of $185.93. Simon Property Group has a one year low of $136.34 and a one year high of $205.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42. The firm has a market capitalization of $58.99 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 6.08 and a beta of 1.35.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. Simon Property Group’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.68 EPS. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group declared that its board has authorized a stock repurchase program on Thursday, February 5th that permits the company to repurchase $2.00 billion in outstanding 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 programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock bought 363 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $67,518.00. Following the purchase, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. The trade was a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 226 shares of the stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the acquisition, the director owned 19,455 shares in the company, valued at approximately $3,618,630. This represents a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,192 shares of company stock valued at $407,712 in the last ninety days. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SPG. Stance Capital LLC bought a new position in shares of Simon Property Group in the third quarter worth approximately $26,000. Wilkerson Advisory Group LLC bought a new stake in Simon Property Group during the fourth quarter valued at approximately $29,000. Silicon Valley Capital Partners purchased a new position in Simon Property Group in the 2nd quarter worth approximately $30,000. SHP Wealth Management purchased a new position in Simon Property Group in the 4th quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Simon Property Group in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.