Simon Property Group (NYSE:SPG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Simon Property Group (NYSE:SPG) had its price target increased by stock analysts at JPMorgan Chase & Co. from $180.00 to $184.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.30% from the stock’s previous close.

A number of other brokerages also recently commented on SPG. Scotiabank increased their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Barclays assumed coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective on the stock. Stifel Nicolaus set a $179.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research report on Tuesday, August 5th. Piper Sandler dropped their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Finally, Mizuho dropped their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $183.00.

Simon Property Group Trading Up 1.7%

Shares of NYSE:SPG opened at $176.4210 on Friday. Simon Property Group has a 52 week low of $136.34 and a 52 week high of $190.13. The company’s 50 day moving average is $164.80 and its two-hundred day moving average is $164.67. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market cap of $57.60 billion, a PE ratio of 27.27, a P/E/G ratio of 10.65 and a beta of 1.48.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $2.90 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 522 shares of the stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $83,149.38. Following the transaction, the director owned 58,195 shares of the company’s stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin acquired 246 shares of the stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock worth $387,271 in the last three months. Company insiders own 8.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPG. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group in the 2nd quarter worth $786,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Simon Property Group by 9.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 924 shares of the real estate investment trust’s stock worth $149,000 after acquiring an additional 81 shares during the period. Advisory Services Network LLC lifted its stake in shares of Simon Property Group by 3.2% in the 2nd quarter. Advisory Services Network LLC now owns 22,650 shares of the real estate investment trust’s stock worth $3,710,000 after acquiring an additional 695 shares during the period. Cim LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter worth $2,046,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Simon Property Group in the 2nd quarter worth $16,147,000. 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 self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.