Simon Property Group (NYSE:SPG) Price Target Raised to $201.00 at Barclays

Simon Property Group (NYSE:SPG) had its price objective upped by Barclays from $193.00 to $201.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages also recently commented on SPG. Citigroup boosted their price objective on Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Evercore raised their target price on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. Scotiabank lifted their price target on shares of Simon Property Group from $189.00 to $192.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $184.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, February 3rd. Finally, Truist Financial increased their price objective on shares of Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $200.14.

Simon Property Group Stock Down 0.1%

Shares of NYSE SPG opened at $200.41 on Monday. The stock has a market cap of $65.12 billion, a P/E ratio of 14.13, a PEG ratio of 6.61 and a beta of 1.37. The business’s fifty day simple moving average is $193.53 and its 200-day simple moving average is $186.64. Simon Property Group has a 12-month low of $145.84 and a 12-month high of $205.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 EPS for the quarter, topping the consensus estimate of $3.47 by $0.02. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted $3.68 EPS. Simon Property Group’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. As a group, equities analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were given a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 62.06%.

Simon Property Group announced that its board has authorized a stock repurchase program on Thursday, February 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Simon Property Group

Several hedge funds have recently added to or reduced their stakes in the stock. Stance Capital LLC purchased a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $26,000. Wilkerson Advisory Group LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at $29,000. Silicon Valley Capital Partners acquired a new stake in Simon Property Group during the 2nd quarter worth $30,000. SHP Wealth Management acquired a new stake in Simon Property Group during the 4th quarter worth $34,000. Finally, Salomon & Ludwin LLC purchased a new stake in Simon Property Group in the third quarter valued at $39,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.