Scotiabank Has Lowered Expectations for Simon Property Group (NYSE:SPG) Stock Price

Simon Property Group (NYSE:SPG) had its price objective cut by equities researchers at Scotiabank from $222.00 to $221.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 7.51% from the company’s previous close.

A number of other brokerages also recently commented on SPG. Morgan Stanley increased 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 research report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price target for the company. in a report on Thursday, July 9th. Stifel Nicolaus increased their price objective on Simon Property Group from $194.00 to $209.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Evercore set a $219.00 target price on Simon Property Group in a research note on Monday. Finally, Piper Sandler lifted their price target on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $228.36.

Simon Property Group Stock Up 1.3%

Shares of NYSE SPG traded up $2.62 during midday trading on Thursday, hitting $205.56. The company’s stock had a trading volume of 190,734 shares, compared to its average volume of 1,646,452. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $66.51 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 3.08 and a beta of 1.28. The business’s fifty day simple moving average is $219.54 and its two-hundred day simple moving average is $208.84. Simon Property Group has a 1 year low of $172.19 and a 1 year high of $238.50.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company earned $1.70 earnings per share. Simon Property Group’s quarterly revenue 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, equities analysts predict that Simon Property Group will post 13.2 EPS for the current year.

Insider Activity

In other news, Director Marta R. Stewart acquired 182 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $223.16 per share, with a total value of $40,615.12. Following the completion of the transaction, the director directly owned 18,000 shares in the company, valued at approximately $4,016,880. This represents a 1.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel C. Smith bought 372 shares of the stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $223.31 per share, with a total value of $83,071.32. Following the completion of the purchase, the director directly owned 34,480 shares in the company, valued at $7,699,728.80. This trade represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 2,387 shares of company stock worth $533,056 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Simon Property Group

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Simon Property Group by 1.2% during the second quarter. BlackRock Inc. now owns 37,269,192 shares of the real estate investment trust’s stock worth $8,335,255,000 after purchasing an additional 455,543 shares during the period. Geode Capital Management LLC grew its position in Simon Property Group by 3.6% during the fourth 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 acquiring an additional 363,337 shares during the period. Wellington Management Group LLP increased its position in Simon Property Group by 2.7% during the 2nd quarter. Wellington Management Group LLP now owns 9,390,325 shares of the real estate investment trust’s stock worth $2,100,146,000 after purchasing an additional 242,709 shares in the last quarter. Capital World Investors lifted its position in Simon Property Group by 2.7% during the fourth 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 in the last quarter. Finally, Bank of America Corp DE raised its position in Simon Property Group by 6.1% in the first 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 purchasing an additional 491,519 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.