Analysts Set Simon Property Group, Inc. (NYSE:SPG) Target Price at $216.14

Shares of Simon Property Group, Inc. (NYSE:SPG) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $216.1429.

SPG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Jefferies Financial Group raised shares of Simon Property Group to a “strong-buy” rating in a research note on Friday, June 26th. Scotiabank upped their target price on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Truist Financial increased their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research note on Tuesday, June 23rd. Finally, Stifel Nicolaus raised their price target 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.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Marta R. Stewart purchased 182 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.16 per share, with a total value of $40,615.12. Following the acquisition, the director directly owned 18,000 shares in the company, valued at approximately $4,016,880. The trade was a 1.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glyn Aeppel purchased 243 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $223.36 per share, with a total value of $54,276.48. Following the transaction, the director owned 21,067 shares in the company, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,387 shares of company stock valued at $533,056 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $295,000. Marshall Wace LLP grew its position in Simon Property Group by 316.2% in the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after acquiring an additional 15,033 shares in the last quarter. Jump Financial LLC grew its position in Simon Property Group by 80.1% in the second quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock worth $2,714,000 after acquiring an additional 7,506 shares in the last quarter. Cerity Partners LLC increased its stake in Simon Property Group by 1.7% in the second quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after acquiring an additional 598 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Simon Property Group by 13.4% in the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after acquiring an additional 3,372 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.2%

Simon Property Group stock opened at $222.56 on Friday. The firm has a 50 day simple moving average of $220.80 and a 200 day simple moving average of $204.84. 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 has a 1-year low of $163.29 and a 1-year high of $238.50. The firm has a market capitalization of $72.17 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 2.88 and a beta of 1.30.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 earnings per share. On average, analysts predict that Simon Property Group will post 13.21 earnings per share for the current year.

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.