Simon Property Group (NYSE:SPG) Price Target Raised to $186.00 at Barclays

Simon Property Group (NYSE:SPG) had its price target hoisted by Barclays from $180.00 to $186.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI raised their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Truist Financial boosted their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Piper Sandler upped their price objective on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. raised their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $190.31.

Simon Property Group Stock Performance

SPG stock opened at $181.85 on Tuesday. 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 firm has a market cap of $59.37 billion, a P/E ratio of 28.11, a P/E/G ratio of 12.73 and a beta of 1.50. Simon Property Group has a 12-month low of $136.34 and a 12-month high of $190.13. The stock’s 50 day simple moving average is $180.76 and its 200 day simple moving average is $170.97.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities research analysts predict that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the purchase, the director owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz acquired 464 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $86,280.80. Following the acquisition, the director directly owned 58,659 shares of the company’s stock, valued at approximately $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,121 shares of company stock worth $394,400 in the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Colonial Trust Co SC increased its position in shares of Simon Property Group by 25.7% during the third quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in Simon Property Group by 0.5% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after purchasing an additional 66 shares during the period. Howard Capital Management Inc. increased its position in shares of Simon Property Group by 3.1% during the 3rd quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 66 shares during the last quarter. TIAA Trust National Association increased its position in shares of Simon Property Group by 3.9% during the 3rd quarter. TIAA Trust National Association now owns 1,774 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 67 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its stake in shares of Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 68 shares during the period. 93.01% of the stock is currently owned by institutional investors.

About Simon Property Group

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.