Streetbeat News

SPG

Simon Property Group, Inc.

https://www.simon.com

Industry

REIT - Retail

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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Simon Property Group (SPG) has announced an increase in its quarterly dividend from $1.95 to $2.05 per share.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:28 pm

Simon Property Group (NYSE:SPG) reported Q2 2024 earnings per share of $2.90, missing the analyst estimate of $2.94 by 1.36%. However, the company reported sales of $1.45 billion, beating the estimate of $1.30 billion by 11.34%. This represents a 5.87% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:10 pm

BP p.l.c. (NYSE:BP) has announced a strategic partnership with Audi to develop sustainable fuels and lubricants for Audi's entry into Formula 1 in 2026. The partnership aims to meet new FIA regulations requiring a significant reduction in greenhouse gas emissions. Despite this positive development, BP shares are trading lower today.

Portfolio Pulse from Lekha Gupta

July 15, 2024 | 12:09 pm

FedEx Corp (NYSE:FDX) is under scrutiny for allegedly partnering with law enforcement to share surveillance footage from its vehicles, raising privacy concerns. The program, which uses AI technology from Flock Safety, has been criticized by the ACLU. Other companies like Simon Property Group Inc (NYSE:SPG) and Lowe’s Companies Inc (NYSE:LOW) also share data with law enforcement.

Portfolio Pulse from Hayden Buckfire

July 01, 2024 | 4:35 pm

Netflix Inc (NASDAQ:NFLX) is diversifying by opening two 'experiential entertainment venues' in Texas and Pennsylvania shopping malls, which could benefit both Netflix and the mall sector. The new venues will feature experiences based on popular Netflix shows, restaurants, and merchandise. This move could help fill vacancies in malls and increase foot traffic.

Portfolio Pulse from Chris Katje

June 21, 2024 | 6:43 pm

Forever 21 is seeking rent concessions as it faces financial struggles. This move indicates the fast fashion brand's ongoing financial woes and could impact its landlords, including Simon Property Group (SPG).

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 12:52 pm

Simon Property Group, WHP Global, Brookfield Properties, and Centennial Real Estate have formed a joint venture called PHOENIX, which has received court approval to acquire a majority of Express, Inc. operations. PHOENIX will operate all direct-to-consumer commerce in the U.S. for Express and Bonobos.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 6:34 pm

Analysts have recently updated their ratings and price targets for Simon Property Group (NYSE:SPG), with a mix of bullish and indifferent sentiments. The average 12-month price target has increased to $153.5, reflecting a positive outlook. Key financial metrics show strong profitability and revenue growth, but high debt levels remain a concern.

Portfolio Pulse from Benzinga Insights

June 11, 2024 | 1:00 pm

Argus Research has maintained its Buy rating on Simon Property Group (NYSE:SPG) and raised the price target from $157 to $168.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:58 pm

Recent options trading activity for Simon Property Group (NYSE:SPG) indicates a bearish sentiment among large investors, with 6 put options and 2 call options detected. The price target for SPG is between $125.0 and $155.0. The stock is currently trading at $148.07, up by 0.66%, with an RSI indicating it may be approaching overbought territory. An analyst from Scotiabank maintains a Sector Perform rating with a price target of $152.0.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:45 pm

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