Simon Property Group (NYSE:SPG) Given New $210.00 Price Target at Piper Sandler

Simon Property Group (NYSE:SPG) had its price target raised by Piper Sandler from $200.00 to $210.00 in a report issued on Thursday, Marketbeat reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also recently commented on SPG. Scotiabank raised their target price on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Morgan Stanley raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Mizuho decreased their target price on 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $186.46.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $180.40 on Thursday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $58.90 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 10.99 and a beta of 1.50. The firm’s 50 day simple moving average is $172.19 and its 200-day simple moving average is $164.33. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.13.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Insider Buying and Selling

In related news, Director Larry C. Glasscock acquired 396 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Glyn Aeppel bought 234 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the transaction, the director directly owned 19,057 shares of the company’s stock, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,428 shares of company stock valued at $387,271. 8.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simon Property Group

Several large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 789 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 509 shares during the period. Brighton Jones LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $295,000. Clark Capital Management Group Inc. purchased a new stake in shares of Simon Property Group in the 1st quarter valued at $39,370,000. Finally, AQR Capital Management LLC lifted its stake in Simon Property Group by 45.4% during the 1st quarter. AQR Capital Management LLC now owns 211,810 shares of the real estate investment trust’s stock worth $34,773,000 after acquiring an additional 66,174 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.