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Simon Property Group (NYSE:SPG) Stock, Chaîne d'Options

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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Simon Property Group, Inc. Simon Property Group 8 3/8% Series J Cumulative Redeemable Preferred Stock

2024 Guidance The Company currently estimates net income to be within a range of $7.18 to $7.28 per diluted share and FFO to be within a range of $12.80 to $12.90 per diluted share, excluding the $0.14 per diluted share of unrealized losses in fair value adjustments of the Klépierre exchangeable bonds and publicly traded equity instruments, net for the year ending December 31, 2024.&nbsp; &nbsp;&nbsp;
The following table provides the GAAP to non-GAAP reconciliation for the expected range of estimated net income attributable to common stockholders per diluted share to FFO per diluted share:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">For the year ending December 31, 2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Low</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">High</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">End</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">End</td>
</tr>
<tr>
<td colspan="2" rowspan="1">Estimated net income attributable to common stockholders</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">per diluted share</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$7.18</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$7.28</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Depreciation and amortization including Simon's share</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">of unconsolidated entities</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">5.50</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">5.50</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Gain on acquisition of controlling interest, sale or</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">disposal of, or recovery on, assets and interest in</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">unconsolidated entities and impairment, net</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(0.02)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(0.02)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Estimated FFO per diluted share</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$12.66</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$12.76</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Unrealized losses in fair value adjustments</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">of the Klépierre exchangeable bonds and</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">publicly traded equity instruments, net</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.14</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">0.14</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Estimated FFO per diluted share, excluding unrealized</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">losses in fair value adjustments of the</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Klépierre exchangeable bonds and</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">publicly traded equity instruments, net</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$12.80</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$12.90</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

News

Guidance

Simon Property Group Sees FY24 EPS $7.18-$7.28 Vs $7.12 Est.; FFO $12.80-$12.90

Dividends
Today, Simon&#39;s Board of Directors declared a quarterly common stock dividend of $2.10 for the fourth quarter of 2024. &nbsp;This is an increase of $0.20, or 10.5% year-over-year.&nbsp; The dividend will be payable on December 30, 2024 to shareholders of record on December 9, 2024.&nbsp;
Simon&#39;s Board of Directors declared the quarterly dividend on its 8 3/8% Series J Cumulative Redeemable Preferred Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGPRJ#NYSE">SPGPRJ</a>) of $1.046875 per share, payable on December 30, 2024 to shareholders of record on December 16, 2024.&nbsp;

Dividends

SPGPRJ

Simon Property Group Increases Quarterly Dividend From $2.05 To $2.10 Per Share

Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) reported quarterly earnings of $2.84 per share which missed the analyst consensus estimate of $3.03 by 6.27 percent. The company reported quarterly sales of $1.481 billion which beat the analyst consensus estimate of $1.325 billion by 11.74 percent. This is a 4.96 percent increase over sales of $1.411 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Simon Property Group Q3 2024 FFO $2.84 Misses $3.03 Estimate, Sales $1.481B Beat $1.325B Estimate

Dear Benzinga Member, One of Wall Street&#8217;s best-kept secrets is the consistent outperformance of REITs since 1972. This was when the National Association of Real Estate Investment Trusts and some large real estate developers successfully lobbied for legislative and tax changes, creating the modern version of the REIT. For the past several years, real estate has generally been viewed as toxic. Rates were rising, and a wave of refinancing&#8217;s would doom property owners to bankruptcy. Thanks to generous work-from-home policies after the pandemic, no one would rent office space again. We were building too many apartments that would never be rented, and wide swaths of America would look like the landscape in a dystopian post-apocalyptic movie. Malls were dead, and no one would ever shop in one again. While there are small kernels of truth in the bearish case for real estate, the fears were greatly exaggerated for the most part. One of the most overlooked concepts is that Real Estate Investment Trusts tend to own the most excellent properties in the best markets. There are very few sagging office buildings in bad neighborhoods or failing cities. REITs also have far more access to financing and the markets than private real estate companies. Their borrowing costs are lower, and it is easier for them to sell equity if they choose to do so. Thanks to rising mortgage rates and a lack of single-family home inventory, demand for multifamily housing has been much higher than most analysts expected. The shopping malls that were going to fail have already failed. The high-end malls in the best neighborhoods are thriving. Even center-city office towers are starting to see demand pick up as the economy continues to grow and employers rethink overly generous work-from-home policies. Now, REIT insiders have decided that the future is so bright they have to write checks. In the past few weeks, we have seen officers and directors reach into their pockets and buy more shares of the Real Estate Investment Trusts they manage. Not too long ago, investors were certain that Simon Property Group (Ticker: SPG) would be filing for bankruptcy before too much time passed. Simon is one of the largest owners of small space in the United States. Before COVID hit our shores, we were already writing off malls, and e-commerce was killing off brick-andmortar stores. Weaker malls in lower-income and less populated areas were shutting down all over America. When COVID stopped mall foot traffic cold in almost every brick-and-mortar store, Simon was the next likely casualty, according to the Instant Experts of the Internet. The experts and analysts overlooked one crucial fact: Simon Property Group owns the very best malls in the very best markets around the world. Simon Property Group&#8217;s mall portfolio is its crown jewel, featuring some of the most iconic and productive malls in the United States and abroad. These malls are primarily located in affluent, densely populated urban and suburban areas, ensuring a steady stream of consumers with strong purchasing power. SPG owns a variety of malls, from regional shopping centers to upscale, luxury malls that host high-end retailers. Flagship properties such as The Forum Shops at Caesars Palace in Las Vegas, The Galleria in Houston, and King of Prussia in Pennsylvania demonstrate SPG&#8217;s dominance in the luxury and high-traffic retail space. SPG&#8217;s portfolio of premium outlet centers represents a significant portion of its holdings. These outlets allow shoppers to purchase discounted luxury and high-end brands, drawing both local consumers and tourists. The company operates dozens of premium outlet centers across the U.S. and internationally, with flagship properties like Woodbury Common Premium Outlets in New York and Orlando International Premium Outlets in Florida serving as major retail destinations. Recognizing the shifting dynamics in retail, Simon has expanded into mixed-use developments, where retail is integrated with office, residential, and hospitality spaces. These projects are often located in densely populated urban areas and designed to meet the growing demand for live-work-play environments. For instance, Simon&#8217;s Phipps Plaza in Atlanta is undergoing a transformation to include luxury hotel accommodations, office space, and fine dining, in addition to high-end retail offerings. Simon also has a fortress-quality balance sheet and receives an investment-grade rating from the major rating agencies. Insiders know the value of their properties and have been loading up on the stock. Officers and directors have been consistently buying stock all year. They are not buying to make a few percentage points on their investment. They believe the shares of Simon Property Group can deliver huge returns equaling several times the current price. They will also be collecting a dividend yield of 4.59% while they wait. Officers and directors have also been snapping up shares of Armada Hoffler Properties (Ticker: AHH). Armada Hoffler Properties is a diversified real estate investment trust (REIT) focusing on high-quality properties across multiple sectors, including office, retail, and multifamily residential. Founded in 1979 and headquartered in Virginia Beach, Virginia, the company operates primarily in the Mid-Atlantic and Southeastern United States. The company&#8217;s portfolio comprises urban and suburban properties, strategically focusing on markets experiencing strong population growth and economic expansion. Its expertise in mixed-use development has allowed it to create vibrant, dynamic environments that cater to various tenants and residents, making its properties more resilient to market fluctuations. One of the hallmarks of Armada Hoffler&#8217;s property portfolio is its expertise in mixed-use developments. These projects integrate office, retail, and residential spaces into a single complex, often creating community hubs that offer convenience and appeal to a wide range of tenants. Notable examples include The Town Center of Virginia Beach, a landmark project that combines luxury apartments, office spaces, retail stores, dining, and entertainment in a walkable urban environment. The stock is underpriced at current levels, and insiders have been aggressively accumulating shares over the past few months. You get paid very well to wait for good things to happen, as shares of Armada Hoffler are currently yielding over 7%. Best Regards, The Benzinga Research Team Legal Disclosures: This communication is provided for information purposes only. This communication has been prepared based upon information, including market prices, data, and other information, from sources believed to be reliable, but Benzinga does not warrant its completeness or accuracy except with respect to any disclosures relative to Benzinga and/or its affiliates and an analyst&#8217;s involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Benzinga does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual client circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments, or strategies to particular clients. You must make your own independent decisions regarding any securities, financial instruments, or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers, or industries based on specific developments or announcements, market conditions, or any other publicly available information. However, Benzinga may be restricted from updating information contained in this communication for regulatory or other reasons. Clients should contact analysts and execute transactions through a Benzinga subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of Benzinga. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitute your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of Benzinga. Copyright 2023 Benzinga. All rights reserved. The author of this report may hold shares or have a position in the stocks mentioned in this report. This disclosure is made in accordance with U.S. Securities and Exchange Commission regulations and is intended to fully inform readers of any potential conflicts of interest. As always, investing in securities carries a high degree of risk; you should consult with your financial advisor before making any investment decisions.

Opinion

C-Suite Buy of the Week: REIT Edition

Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) is preparing to release its quarterly earnings on Friday, 2024-11-01. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Simon Property Group to report an earnings per share (EPS) of $3.01.
The market awaits Simon Property Group's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Performance in Previous Earnings</h3>
In the previous earnings release, the company missed EPS by $0.02, leading to a 5.06% increase in the share price the following trading session.
Here's a look at Simon Property Group's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.92</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.90</td>
<td>3.56</td>
<td>3.69</td>
<td>3.2</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.0%</td>
<td>2.0%</td>
<td>5.0%</td>
<td>4.0%</td>
</tr>
</tbody>
</table>

<h3>Market Performance of Simon Property Group's Stock</h3>
Shares of Simon Property Group were trading at $172.08 as of October 30. Over the last 52-week period, shares are up 45.34%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Insights Shared by Analysts on Simon Property Group</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Simon Property Group.
The consensus rating for Simon Property Group is Neutral, based on 9 analyst ratings. With an average one-year price target of $162.61, there's a potential 5.5% downside.
<h3>Comparing Ratings with Competitors</h3>
The following analysis focuses on the analyst ratings and average 1-year price targets of Realty Income, Kimco Realty and Regency Centers, three prominent industry players, providing insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for Realty Income, with an average 1-year price target of $64.73, suggesting a potential 62.38% downside.</li>
<li>The prevailing sentiment among analysts is an Neutral trajectory for Kimco Realty, with an average 1-year price target of $24.21, implying a potential 85.93% downside.</li>
<li>Regency Centers is maintaining an Outperform status according to analysts, with an average 1-year price target of $76.55, indicating a potential 55.51% downside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
In the peer analysis summary, key metrics for Realty Income, Kimco Realty and Regency Centers are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Simon Property Group</td>
<td>Neutral</td>
<td>6.47%</td>
<td>$1.23B</td>
<td>16.54%</td>
</tr>
<tr>
<td>Realty Income</td>
<td>Neutral</td>
<td>31.42%</td>
<td>$1.24B</td>
<td>0.66%</td>
</tr>
<tr>
<td>Kimco Realty</td>
<td>Neutral</td>
<td>12.96%</td>
<td>$342.07M</td>
<td>1.05%</td>
</tr>
<tr>
<td>Regency Centers</td>
<td>Outperform</td>
<td>13.68%</td>
<td>$252.28M</td>
<td>1.49%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Simon Property Group ranks in the middle among its peers for Consensus. It ranks at the bottom for Revenue Growth. It ranks at the top for Gross Profit. It ranks in the middle for Return on Equity.
<h3>Unveiling the Story Behind Simon Property Group</h3>
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.
<h3>Financial Milestones: Simon Property Group's Journey</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining Simon Property Group's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 6.47% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind 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 ROE stands out, surpassing industry averages. With an impressive ROE of 16.54%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.47%, the company showcases effective utilization of assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 8.89, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/SPG/earnings">To track all earnings releases for Simon Property Group visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Peek at Simon Property Group's Future Earnings

Now that the stock market is going into a new trend and cycle, sparked by the recent Federal Reserve (the Fed) interest rate cuts initiating a potential money shift over the next few quarters, investors might start to prefer safer spaces and stocks to put their capital into. Among all these preferences, the income aspect could make it to the top of the list now.
This is because, as interest rates come down, savings account yields could also decrease significantly. Seeing this change in liquid capital funds and accounts could lead investors to new stocks with attractive yields through dividend payments. It is important to get ahead of the trend through today&#39;s stock list before they become popular and the yield is not there tomorrow.
Bonds are now back above a 4% annual yield for the ten-year treasury bond, which may not last long since they were below 3.8% even before the Fed cut interest rates, so buying into the iShares 20+ Year Treasury Bond ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlt#NASDAQ">TLT</a>) can be a good idea. Then there is the real estate sector, known for its stability and rental income. Stocks like Realty Income Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/o#NYSE">O</a>) and Simon Property Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) come as a prime choice for high dividends.
<h2>Lock in Today&#39;s Bond Yields with This High-Yield ETF Before They&#39;re Gone</h2>
Now that this bond ETF has traded down by over 10% from its 52-week high of roughly $101.5 a share, investors have a new opportunity to get in a lock their dividend yields through treasury bonds, arguably one of the safest and most reliable ways to collect dividend payouts.
At today&#39;s price, the ETF&#39;s annual payout of $3.65 a share would translate into an annualized dividend yield of up to 3.86% to beat inflation and be above U.S. GDP growth. More than that, now investors know the ETF offers a double-digit upside on top of this reliable dividend to sweeten the deal.
There has also been some institutional interest in this ETF lately. Knowing that the Fed will likely continue to cut interest rates in the next few meetings, bringing yields lower and bond prices higher, investors are likely looking to lock in not only today&#39;s prices but also today&#39;s yields.
Those at Northwestern Mutual Wealth Management decided to boost their holdings in the ETF by as much as 2,810% as of August 2024, netting their position at $2.99 billion today or 5.5% ownership in the entire ETF. More than that, Stanley Druckenmiller (who is responsible for George Soros&#39; returns) has also rotated his profits from NVIDIA Co.&nbsp;into this ETF.
<h2>Realty Income: Inflation-Beating Monthly Dividend for Consistent Returns</h2>
Shares of Realty Income, one of the few real estate investment trusts (REITs) that offer a monthly dividend payment, offer a chance to lock in a reliable monthly income. Even though the stock trades at its 52-week high, some on Wall Street believe there is still some upside left.
Analysts at Stifel Nicolaus have reiterated their &quot;Buy&quot; ratings on Realty Income stock, a view coupled with a price target of up to $70.25 a share. This directly calls for as much as 13.7% from where it trades today, not to mention a new yearly high for the stock.
Through the portfolio&#39;s stability and rental income, management now offers an annual dividend payout of $3.16 a share, or an annualized yield of 5.1%, which is near the highest recorded yield of 6.6%. Like any other investor looking to lock in stable and attractive income sources, some institutional buyers decided to add to their Realty Income stock positions.
As of August 2024, Legal &amp; General Group boosted its holdings by 4.5%, an allocation that brought its net investment in Realty Income stock up to $467.5 million today, or 1.4% ownership in the REIT. Based on this property portfolio&#39;s quality and growth, broader markets are also stepping up to the plate.
Compared to the rest of the REIT industry&#39;s average 38.3x P/E valuation, Realty Income stock trades at a much higher 57.0x multiple today. This shows a willingness to overpay from the overall market, which is always a good sign for bulls.
<h2>Institutions Lead the Charge on Simon Property Group Stock Ahead of Market Moves</h2>
Over the past quarter, Simon Property Group stock has seen a few institutional buyers come in to lock in the high dividend yield offered today. This is another REIT trading at its 52-week high to show investors that momentum has been on its side during the past few weeks, but some think there could be more.
Knowing that lower interest rates could spark new trends in the consumer discretionary sector, which make up for all the tenants at Simon&#39;s properties, management feels comfortable paying a $8.20 a share dividend per year. At today&#39;s price, this payout would translate into an annual dividend yield of up to 4.85% today to also beat inflation rates and GDP growth.
Those at HSBC Holdings felt it was the right time to boost their holdings in the REIT by 6.7% as of August 2024, bringing their net position to $162.7 million today. Getting ahead of the curb is common for institutions this big, but they weren&#39;t alone in their bullish views.
Analysts at Piper Sandler recently set a price target of $175 a share for Simon Property Group, calling for a net upside of 3.5% from today&#39;s price. This view is coupled with Evercore&#39;s new &quot;Outperform&quot; rating, which has a $172 price target.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/3-high-yield-stocks-to-lock-in-steady-income-this-quarter/">3 High-Yield Stocks to Lock in Steady Income This Quarter</a>&quot; first appeared on MarketBeat.

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3 High-Yield Stocks to Lock in Steady Income This Quarter

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" />
Image Source: Zacks Investment Research
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>

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

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