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Simon Property Group

Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $743 in sales per square foot in 2023 compared with $693 in sales per square foot over the 12 months before the pandemic. The company also owns a 22% interest in Klépierre, a European retail company with investments in shopping centers in 14 countries, and joint-venture interests in 33 premium outlets across 11 countries.

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Shares of Simon Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) have soared 17.4%% in the year-to-date period compared with its industry&#39;s growth of 7.8%.
This retail real estate investment trust&#39;s (REITs) portfolio of premium retail assets in the United States and abroad, the adoption of omnichannel retailing, focus on mixed-use developments and healthy balance sheet strength have enabled it to ride the growth curve so far.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/eb/80816.jpg?v=139820625" />
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Let us now decipher the factors behind the increase in the stock price and check whether the trend will last.
Simon Property enjoys a wide exposure to retail assets across the United States. Moreover, the company&#39;s international presence fosters sustainable long-term growth as compared with its domestically-focused peers. Its ownership stake in Kl&eacute;pierre facilitates the expansion of its global footprint, which gives it access to premium retail assets in the high barrier-to-entry markets of Europe. We believe that diversification, with respect to both product and geography, will help it grow over the long term.
In the first half of 2024, it signed 572 new leases and 1,251 renewal leases (excluding mall anchors and majors, new development, redevelopment and leases with terms of one year or less) with a fixed minimum rent across its U.S. Malls and Premium Outlets portfolio.
Given the favorable retail real estate environment, this leasing momentum is expected to continue in the upcoming quarters. As of June 30, 2024, the ending occupancy for the U.S. Malls and Premium Outlets portfolio came in at 95.6%, up 90 basis points from 94.7% as of June 30, 2023. We project the 2024 year-end occupancy for this portfolio to be 95.7%.
Simon Property&#39;s adoption of an omni-channel strategy and successful tie-ups with premium retailers have paid off well. Its online retail platform, coupled with an omnichannel strategy, is likely to be accretive to its long-term growth. The company is also focused on tapping its growth opportunities by assisting digital brands enhance their brick-and-mortar presence.
Also, its efforts to explore the mixed-use development option, which has gained immense popularity in recent years, has enabled it to tap the growth opportunities in areas where people prefer to live, work and play.
<h2>SPG&#39;s Balance Sheet &amp; ROE</h2>
The retail REIT maintains a healthy balance sheet position and has $11.2 billion of liquidity as of the end of the second quarter of 2024. As of June 30, 2024, Simon Property&#39;s total secured debt to total assets was 17%, while the fixed-charge coverage ratio was 4.3, ahead of the required level.
SPG also enjoys a corporate investment-grade credit rating of A- from Standard and Poor&#39;s and a senior unsecured rating of A3 from Moody&#39;s, rendering it favorable access to the debt market. The company&#39;s solid financial footing with ample financial flexibility is likely to support its growth endeavors going forward.
In addition, SPG&#39;s trailing 12-month return on equity is 78.14% compared with the industry&#39;s average of 6.28%. This reflects that the company is more efficient in using shareholders&#39; funds than its peers.
<h2>SPG&#39;s Dividend Payments</h2>
Solid dividend payouts are a massive enticement for REIT investors, and SPG has remained committed to boosting shareholder wealth. Encouragingly, the company has raised its dividend payout 11 times in the last five years, with the latest hike being announced in August 2024, concurrent with the second-quarter 2024 earnings release.
Given SPG&#39;s solid operating platform, opportunities for growth, and decent financial position compared with the industry, we expect the dividend rate to be sustainable in the upcoming period.
<h2>Risks Likely to Affect SPG&#39;s Positive Trend</h2>
rowing e-commerce adoption is likely to adversely impact the market share for brick-and-mortar stores and affect retail REITs including Simon Property. Limited consumers&#39; willingness to spend amid macroeconomic uncertainty poses key near-term concerns for the company.
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the retail REIT sector are Brixmor Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brx#NYSE">BRX</a>) and Tanger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>), each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Brixmor&#39;s 2024 FFO per share is pinned at $2.13, suggesting year-over-year growth of 4.4%.
The Zacks Consensus Estimate for Tanger&#39;s 2024 FFO per share stands at $2.09, indicating an increase of 6.6% from the year-ago reported figure.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2347757/simon-property-soars-17-4-year-to-date-will-the-trend-last?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2347757">To read this article on Zacks.com click here.</a>

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Simon Property Soars 17.4% Year to Date: Will the Trend Last?

Simon&#xAE;, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, announced today that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the "Operating Partnership"), has agreed to sell $1.0 billion aggregate principal amount of its 4.750% Notes due 2034.
The new issue of senior notes has a term of 10 years and a coupon rate of 4.750%. The offering is expected to close on September 26, 2024, subject to customary closing conditions.
The Operating Partnership intends to use the net proceeds of the offering for general corporate purposes, including to repay other unsecured indebtedness.

Offerings

Simon Property Group Sells $1B Aggregate Principal Amount Of Its 4.750% Notes Due 2034

Financing

Simon Property Group Amended, Restated And Extended $3.5B Revolving Credit Facility

Evercore ISI Group analyst Steve Sakwa upgrades Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) from In-Line to Outperform and raises the price target from $160 to $172.

Upgrades

Evercore ISI Group Upgrades Simon Property Group to Outperform, Raises Price Target to $172

Across the recent three months, 8 analysts have shared their insights on Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>), expressing a variety of opinions spanning from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Simon Property Group and provided 12-month price targets. The average target is $161.44, accompanied by a high estimate of $175.00 and a low estimate of $155.00. Surpassing the previous average price target of $157.56, the current average has increased by 2.46%.
<img src="https://www.benzinga.com/files/images/story/2024/1726142442_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Simon Property Group. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$159.00</td>
<td>$157.50</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$175.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Ki Bin Kim</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$158.00</td>
<td>$147.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$160.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$169.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$158.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$157.50</td>
<td>$152.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$155.00</td>
<td>$150.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Simon Property Group. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Simon Property Group compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Capture valuable insights into Simon Property Group's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SPG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Simon Property Group analyst ratings.</a>
<h2>Discovering Simon Property Group: A Closer Look</h2>
Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $743 in sales per square foot in 2023 compared with $693 in sales per square foot over the 12 months before the pandemic. The company also owns a 21% interest in Klépierre, a European retail company with investments in shopping centers in 16 countries, and joint-venture interests in 33 premium outlets across 11 countries.
<h3>Financial Milestones: Simon Property Group's Journey</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Simon Property Group displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 6.47%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Simon Property Group's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 33.84% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Simon Property Group's ROE excels beyond industry benchmarks, reaching 16.54%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Simon Property Group's ROA stands out, surpassing industry averages. With an impressive ROA of 1.47%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Simon Property Group's debt-to-equity ratio stands notably higher than the industry average, reaching 8.89. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Analyst Ratings: What Are They?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 8 Takes On Simon Property Group

Stifel analyst Simon Yarmak downgrades Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) from Buy to Hold and raises the price target from $157.5 to $159.

Downgrades

Stifel Downgrades Simon Property Group to Hold, Raises Price Target to $159

Simon Property Group's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) short percent of float has risen 7.08% since its last report. The company recently reported that it has 4.89 million shares sold short, which is 2.27% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.52 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Simon Property Group Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725385520_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Simon Property Group has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Simon Property Group's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Simon Property Group's peer group average for short interest as a percentage of float is 5.52%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Simon Property Group's Recent Short Interest

Piper Sandler analyst Alexander Goldfarb downgrades Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) from Overweight to Neutral and lowers the price target from $190 to $175.

Piper Sandler Downgrades Simon Property Group to Neutral, Lowers Price Target to $175

Regency Centers (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/reg#NASDAQ">REG</a>) recently announced the opening of Oakley Shops at Laurel Fields, a new ground-up development anchored by Safeway in Oakley, CA.
Oakley Shops represents Regency&#39;s first development in the Northern California submarket and will encompass around 79,000 square feet of retail space. This development will be located at the signalized intersection of Laurel Road and O&#39;Hara Avenue, aiming to fill the gap of insufficient high-quality retail and grocery options in the surrounding area.
Safeway is set to occupy around 56,000 square feet at Oakley Shops, with an additional 23,000 square feet dedicated to quality retail, restaurant and essential services. Several prospective merchants are presently engaged in different stages of lease negotiations and discussions, with further announcements expected in the near future.
Regency is well-poised to benefit from its strategically located portfolio of premium shopping centers, concentrated in affluent suburban areas and near urban trade areas where consumers have high spending power. Over the years, the company has made several developments in the key markets of the United States to bolster growth.
In the second quarter, REG started approximately $40 million of new development and redevelopment projects, bringing total project starts to $120 million since the beginning of the year through Aug. 1, 2024. As of June 30, 2024, Regency Centers&#39; in-process development and redevelopment projects had estimated net project costs of $578 million. Given the company&#39;s prudent financial management, it is well-poised to capitalize on such opportunities.
<h2>Conclusion</h2>
Given the prime location of the property and its popularity, it is likely to draw in substantial consumer footfall and drive sales, making the move strategic for Regency.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have gained 20.2% compared with the industry&#39;s growth of 14.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/37/75606.jpg?v=67651740" />
Image Source: Zacks Investment Research
&nbsp;
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks from the retail REIT sector are Simon Property Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) and Tanger. Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Simon Property&#39;s 2024 FFO per share stands at $12.85, indicating an increase of 2.7% from the year-ago reported figure.
The Zacks Consensus Estimate for Tanger&#39;s 2024 FFO per share is pinned at $2.09, suggesting year-over-year growth of 6.6%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2327884/regency-starts-safeway-anchored-oakley-shops-development?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2327884">To read this article on Zacks.com click here.</a>

Management

Regency Starts Safeway-Anchored Oakley Shops' Development

Truist Securities analyst Ki Bin Kim maintains Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) with a Hold and raises the price target from $147 to $158.

Truist Securities Maintains Hold on Simon Property Group, Raises Price Target to $158

Evercore ISI Group analyst Steve Sakwa maintains Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) with a In-Line and raises the price target from $157 to $160.

Evercore ISI Group Maintains In-Line on Simon Property Group, Raises Price Target to $160

In the preceding three months, 5 analysts have released ratings for Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>), presenting a wide array of perspectives from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $161.5, with a high estimate of $169.00 and a low estimate of $155.00. Surpassing the previous average price target of $153.20, the current average has increased by 5.42%.
<img src="https://www.benzinga.com/files/images/story/2024/1724695273_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Simon Property Group. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$169.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$158.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$157.50</td>
<td>$152.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$155.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Jacob Kilstein</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$168.00</td>
<td>$157.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Simon Property Group. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Simon Property Group compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Simon Property Group's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SPG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Simon Property Group analyst ratings.</a>
<h2>Delving into Simon Property Group's Background</h2>
Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $743 in sales per square foot in 2023 compared with $693 in sales per square foot over the 12 months before the pandemic. The company also owns a 21% interest in Klépierre, a European retail company with investments in shopping centers in 16 countries, and joint-venture interests in 33 premium outlets across 11 countries.
<h3>Simon Property Group: Financial Performance Dissected</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Over the 3 months period, Simon Property Group showcased positive performance, achieving a revenue growth rate of 6.47% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 33.84%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Simon Property Group's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 16.54%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Simon Property Group's ROA stands out, surpassing industry averages. With an impressive ROA of 1.47%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 8.89, Simon Property Group faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Simon Property Group Stock

Scotiabank analyst Nicholas Yulico maintains Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) with a Sector Perform and raises the price target from $152 to $169.

Scotiabank Maintains Sector Perform on Simon Property Group, Raises Price Target to $169

Mizuho analyst Vikram Malhorta maintains Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) with a Neutral and raises the price target from $155 to $158.

Mizuho Maintains Neutral on Simon Property Group, Raises Price Target to $158

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the real estate sector.
<h3 class="wp-block-heading">Simon Property Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>)</h3>
<ul>
<li>Dividend Yield: 5.19%</li>
<li>Stifel analyst Simon Yarmak maintained a Buy rating and raised the price target from $152 to $157.5 on Aug. 6. This analyst has an accuracy rate of 65%.</li>
<li>Argus Research analyst Jacob Kilstein maintained a Buy rating and boosted the price target from $157 to $168 on June 11. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On Aug. 5, Simon Property Group reported better-than-expected second-quarter revenues, raised its dividend and issued strong FY24 guidance.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to <a href="https://pro.benzinga.com/dashboard">latest SPG news</a></li>
</ul>
<h3 class="wp-block-heading">Crown Castle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>)</h3>
<ul>
<li>Dividend Yield: 5.73%</li>
<li>B of A Securities analyst David Barden maintained a Neutral rating and boosted the price target from $110 to $115 on Aug. 13. This analyst has an accuracy rate of 69%.</li>
<li>Deutsche Bank analyst Matthew Niknam maintained a Hold rating and raised the price target from $103 to $105 on July 23. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On Aug. 7, Crown Castle declared a quarterly cash dividend of $1.565 per common share.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://pro.benzinga.com/dashboard">trend in CCI stock.</a></li>
</ul>
<h3 class="wp-block-heading">VICI Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>)</h3>
<ul>
<li>Dividend Yield: 5.23%</li>
<li>Wells Fargo analyst Heather Bellini maintained an Overweight rating and cut the price target from $34 to $32 on March 6. This analyst has an accuracy rate of 76%.</li>
<li>Mizuho analyst Vikram Malhorta maintained a Buy rating and raised the price target from $32 to $33 on Jan. 10. This analyst has an accuracy rate of 61%.</li>
<li>Recent News: On July 31, VICI Properties posted better-than-expected quarterly sales.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential b<a href="https://pro.benzinga.com/dashboard">reakout in VICI shares</a>.</li>
</ul>

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Wall Street's Most Accurate Analysts Weigh In On 3 Real Estate Stocks With Over 5% Dividend Yields

WIIM

Simon Property Group shares are trading higher after the company reported better-than-expected Q2 revenues, raised its dividend and issued strong FY24 guidance.

Ratings for Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $158.12, with a high estimate of $168.00 and a low estimate of $152.00. This upward trend is evident, with the current average reflecting a 5.24% increase from the previous average price target of $150.25.
<img src="https://www.benzinga.com/files/images/story/2024/1722952889_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of Simon Property Group among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$155.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$157.50</td>
<td>$152.00</td>
</tr>
<tr>
<td>Jacob Kilstein</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$168.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$152.00</td>
<td>$142.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Simon Property Group. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Simon Property Group compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Simon Property Group's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Simon Property Group's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/SPG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Simon Property Group analyst ratings.</a>
<h2>Unveiling the Story Behind Simon Property Group</h2>
Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $743 in sales per square foot in 2023 compared with $693 in sales per square foot over the 12 months before the pandemic. The company also owns a 21% interest in Klépierre, a European retail company with investments in shopping centers in 16 countries, and joint-venture interests in 33 premium outlets across 11 countries.
<h3>Understanding the Numbers: Simon Property Group's Finances</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Simon Property Group's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 6.79%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Simon Property Group's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 50.72%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 24.2%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.15%, the company showcases effective utilization of assets.
Debt Management: Simon Property Group's debt-to-equity ratio surpasses industry norms, standing at 8.5. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>How Are Analyst Ratings Determined?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing Simon Property Group: Insights From 4 Financial Analysts

Evercore ISI Group analyst Steve Sakwa maintains Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) with a In-Line and raises the price target from $150 to $155.

Evercore ISI Group Maintains In-Line on Simon Property Group, Raises Price Target to $155

Stifel analyst Simon Yarmak maintains Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) with a Buy and raises the price target from $152 to $157.5.

Stifel Maintains Buy on Simon Property Group, Raises Price Target to $157.5

Simon Property Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) reported its second-quarter financial results Monday. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/08/n40170760/simon-reports-second-quarter-2024-results-increases-full-year-2024-guidance-and-raises-quarterly-d">key metrics for the quarter. </a>
The Details: Simon Property Group reported quarterly earnings of $2.90 per share, which missed the analyst consensus estimate of $2.94 by 1.36%. Quarterly revenue came in at $1.45 billion which beat the analyst consensus estimate of $1.3 billion by 11.34% and represents a 5.87% increase over the same period last year.
The company reported occupancy of 95.6% compared to 94.7% from the same period last year, and $557.94 base minimum rent per square foot, an increase of 3% year-over-year. Reported retailer sales per square foot was $741 for the trailing 12 months ended June 30, 2024. 
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40076709/whats-going-on-with-sofi-stock-after-earnings">What&#8217;s Going On With SoFi Stock After Earnings?</a>
&#8220;We are pleased with our financial and operational performance in the second quarter,&#8221; said David Simon, chairman, CEO and president. &#8220;We continue to invest in our retail real estate platforms with transformative redevelopments, including the addition of mixed-use components, and selective new developments including the grand opening of Tulsa Premium Outlets on August 15, 2024 at 100% leased. Today, we once again raised our quarterly dividend and are increasing the mid-point of our full-year 2024 guidance.&#8221;
Simon raised its quarterly dividend from $1.95 to $2.05 per share.
Outlook:&nbsp;Simon sees full-year funds from operations (FFO) of between $12.80 and $12.90, versus the $12.49 estimate. 
SPG Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Simon Property Group shares are down 1.05% after-hours at $146.50 at the time of publication Monday.
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Image: u_3u3n7wt5sr from Pixabay

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Press Releases

Simon® Announces Date For Its Second Quarter 2024 Earnings Release And Conference Call

Simon® Reports Second Quarter 2024 Results, Increases Full Year 2024 Guidance and Raises Quarterly Dividend

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Simon® to Present at BofA Securities 2024 Global Real Estate Conference

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Simon® Completes Expansion of Busan Premium Outlets

Simon Property Group Announces $3.5 Billion Revolving Credit Facility

Simon Property Group Sells $1.0 Billion of Senior Notes

Simon Invites Gen Z to Meet Me @themall™

Simon® Announces Date For Its Third Quarter 2024 Earnings Release And Conference Call

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