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 (NYSE:SPG) has seen an increase in short interest, now at 4.51 million shares or 1.88% of float, taking 2.94 days on average to cover. This rise in short interest can indicate a bearish market sentiment towards SPG, though it's lower than its peer group average of 5.41%. Short interest is a key indicator of market sentiment, and while an increase can suggest bearishness, it can also present bullish opportunities under certain conditions.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 4:15 pm

Evercore ISI Group analyst Steve Sakwa maintains an In-Line rating on Simon Property Group (NYSE:SPG) and raises the price target from $142 to $150.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:28 pm

Simon Property Group (NYSE:SPG) received mixed analyst ratings in the last quarter, with a shift towards a more neutral stance in the last 30 days. The average 12-month price target was raised to $148.0, indicating an 8.29% increase from the previous target. Analysts from Morgan Stanley, Truist Securities, Goldman Sachs, and Piper Sandler adjusted their ratings and price targets, reflecting dynamic market conditions and Simon Property Group's performance. The company, a major real estate investment trust in the US, showed strong financial indicators including revenue growth, net margin, ROE, and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 7:01 pm

Morgan Stanley analyst Ronald Kamdem has maintained an Equal-Weight rating on Simon Property Group (NYSE:SPG) and increased the price target from $143 to $145.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:12 pm

Simon Property Group (NYSE:SPG) has seen an increase in short interest, now at 4.51 million shares or 1.88% of float, taking 2.94 days on average to cover. This rise in short interest can indicate bearish market sentiment, but it's lower than its peer group average of 5.41%. Short interest is a key indicator of market sentiment, and while an increase suggests more bearish views, it doesn't necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 2:00 pm

Rep. Victoria Spartz from Indiana reported purchasing Simon Property Group (NYSE:SPG) stock valued between $52,003 and $130,000 on February 15, 2024. The transaction was disclosed in a Periodic Transaction Report. Simon Property Group's shares were trading down 0.91% at $146.66 at the time of the report. Congressional transactions, such as this, are monitored under the STOCK Act to prevent the use of private information for personal gain and require timely public disclosure.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 3:05 pm

Simon Property Group, Inc. (SPG) has announced a new $2.0 billion common stock repurchase program, signaling confidence in the company's financial health and future prospects. This move is likely to be viewed positively by investors as it often indicates a company's belief that its stock is undervalued.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:30 pm

Three REITs, Simon Property Group Inc. (SPG), Douglas Emmett Inc. (DEI), and Highwoods Properties Inc. (HIW), reported fourth-quarter earnings that beat Wall Street estimates, leading to price appreciation. SPG and DEI saw revenue increases year over year, while HIW's revenue slightly declined. SPG raised its quarterly dividend, and despite a lower 2024 FFO guidance, shares rallied about 5%. DEI's shares rose over 4% post-earnings, and HIW's shares increased over 2% after beating FFO estimates but missing on revenue.

Portfolio Pulse from Ethan Roberts

February 08, 2024 | 5:11 pm

Simon Property Group, Inc. (NYSE:SPG) reported Q4 results surpassing analyst expectations with FFO of $3.69 per share and sales of $1.53 billion. The company raised its quarterly dividend from $1.80 to $1.95 per share and highlighted a record annual FFO of nearly $4.7 billion for 2023. SPG expects FY 2024 net income to range between $6.45 to $6.70 per diluted share. Shares traded up 0.25% after-hours.

Portfolio Pulse from Erica Kollmann

February 05, 2024 | 9:45 pm

Simon Property Group, Inc. (SPG) has announced an increase in its quarterly dividend from $1.80 to $1.95 per share, signaling confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:11 pm

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