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.

Open

160.90

Mkt cap

53B

Volume

1.9M

High

161.22

P/E Ratio

22.24

52-wk high

190.14

Low

158.71

Div yield

0.05

52-wk low

139.25

Simon Property Group's shares have seen an increase following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 2:46 pm

Simon Property Group (SPG) forecasts its net income for the year ending December 31, 2024, to be between $7.38 and $7.53 per diluted share, and its FFO (Funds From Operations) to be between $12.75 and $12.90 per diluted share. The guidance includes adjustments for depreciation, amortization, and gains or losses on asset transactions.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:09 pm

Simon Property Group (SPG) reported a significant increase in Q1 FFO to $3.56 per share, up from $2.74 YoY, with sales reaching $1.44B, surpassing the $1.29B estimate. This represents a 29.93% increase in earnings per share and an 11.83% beat on sales estimates, indicating a 6.78% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:07 pm

Simon Property Group (NYSE:SPG) has seen a 14.35% increase in short interest, now at 4.63 million shares or 2.47% of float, with a 3.13-day average to cover. This rise in short interest can indicate a bearish market sentiment, though it's lower than its peer group average of 5.32%. Short interest can be a complex indicator, potentially bullish under certain conditions.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 3:15 pm

REIT shares are trading lower due to rising Treasury yields following March inflation data, impacting income-paying stocks.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 5:45 pm

Market whales have shown a predominantly bearish stance on Simon Property Group (NYSE:SPG), with significant activity in options trading indicating a potential price window of $160. Simon Property Group, a major real estate investment trust, has seen a mix of bullish and bearish trades, but with 87% leaning towards bearish. The company's portfolio performance and analyst ratings suggest a neutral to cautious outlook, with an upcoming earnings announcement in 26 days.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 7:46 pm

Simon Property Group (NYSE:SPG) has seen significant options activity, with a bullish sentiment from financial giants. Analysis of options history revealed 11 unusual trades, with a mix of bullish and bearish tendencies. The expected price window is between $150.0 to $160.0. Notable options activity includes both puts and calls with varying strike prices and expiration dates. Simon Property Group, a major real estate investment trust, has shown a slight price increase to $152.42, with analysts giving mixed ratings and price targets. The company's portfolio performance and market standing are also highlighted.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 6:01 pm

Simon Property Group (NYSE:SPG) received mixed analyst ratings over the past three months, with all five recent ratings being indifferent. The average 12-month price target for SPG has been raised to $145.6, reflecting a 5.35% increase from the previous target. Analysts from Truist Securities, Evercore ISI Group, and Morgan Stanley have raised their price targets, indicating a positive outlook on SPG's financial performance, which includes a notable revenue growth rate of 9.11% and a high net margin of 48.94%. However, the company's high debt-to-equity ratio of 8.89 poses a financial risk.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 6:00 pm

Wall Street analysts have updated their price targets and ratings for several US-listed companies, including notable changes for Centene Corporation, Simon Property Group, FactSet Research Systems, GoDaddy Inc., Masimo Corporation, Foot Locker, Citigroup, The Walt Disney Company, monday.com, and Tempur Sealy International. These adjustments reflect analysts' latest expectations on these companies' future performance.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 12:39 pm

Truist Securities analyst Ki Bin Kim maintains a Hold rating on Simon Property Group (NYSE:SPG) and raises the price target from $139 to $147.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:39 am

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