Brokerages Set Simon Property Group, Inc. (NYSE:SPG) PT at $205.79

Simon Property Group, Inc. (NYSE:SPG) has been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $209.6429.

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Morgan Stanley raised their price objective on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Evercore set a $208.00 price objective on shares of Simon Property Group in a report on Monday, June 8th. Finally, Stifel Nicolaus raised their price objective on shares of Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a report on Tuesday, May 12th.

Simon Property Group Price Performance

Shares of SPG opened at $220.75 on Thursday. Simon Property Group has a twelve month low of $157.05 and a twelve month high of $222.40. The firm’s fifty day simple moving average is $206.27 and its 200-day simple moving average is $195.51. The firm has a market capitalization of $71.59 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 3.92 and a beta of 1.31. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $2.95 EPS. The company’s revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Equities analysts forecast that Simon Property Group will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $2.25 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.1%. Simon Property Group’s payout ratio is 62.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Simon Property Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after buying an additional 286,464 shares during the last quarter. State Street Corp grew its position in shares of Simon Property Group by 1.5% in the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after buying an additional 312,995 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after buying an additional 363,337 shares during the last quarter. Capital World Investors grew its position in shares of Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock valued at $1,593,872,000 after buying an additional 226,271 shares during the last quarter. Finally, Bank of America Corp DE grew 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 valued at $1,586,089,000 after buying an additional 491,519 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.