Mizuho reaffirmed its Neutral recommendation for Simon Property Group (NYSE:SPG), according to a Fintel report last May 26, 2023.
Analyst Price Forecast Indicates Potential 32.81% Upside
The average one-year price target for Simon Property Group as of May 11, 2023 is $134.47. This represents a projected increase of 32.81% from the latest reported closing price of $101.25, with price forecasts ranging from a low of $112.11 to a high of $168.00.
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The estimated annual revenue for Simon Property Group is $4.983 billion, which is a predicted decrease of 6.80%. The anticipated annual non-GAAP EPS is $6.51.
How Are Simon Property Group’s Funds Performing?
As of the last quarter, there are 1,892 funds or institutions reporting positions in Simon Property Group, reflecting an increase of 1.39% or 26 owners. The average portfolio weight for all funds dedicated to SPG is 0.48%, which is an increase of 17.87%. Institutional total shares owned in the last three months increased by 0.24% to 318,210,000 shares. The put/call ratio of SPG presently stands at 0.56, indicating a bullish outlook.
What Are Other Major Shareholders Doing?
Cohen & Steers reported owning 22,581,000 shares of Simon Property Group, which represents 6.91% ownership of the company. In its previous filing, the firm reported owning 21,454,000 shares or increased by 4.99%. Meanwhile, the firm decreased its portfolio allocation in SPG by 1.83% over the last quarter.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 14,199,000 shares or 4.34% ownership of the company. In its prior filing, the firm reported owning 14,501,000 shares or decreased by 2.13%. However, the firm increased its portfolio allocation in SPG by 5.71% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,940,000 shares or 3.04% ownership of the company. In its prior filing, the firm reported owning 9,747,000 shares, reflecting an increase of 1.94%. The firm also increased its portfolio allocation in SPG by 23.27% over the last quarter.
Geode Capital Management holds 8,144,000 shares or 2.49% ownership of the company. In its previous filing, the firm reported owning 7,379,000 shares, showing an increase of 9.39%. The firm decreased its portfolio allocation in SPG by 2.87% over the last quarter.
Background on Simon Property Group
(The company provided this description)
Simon Property Group, Inc. is a real estate investment trust that owns premier shopping, dining, entertainment, and mixed-use destinations. As an S&P 100 company with properties in North America, Europe, and Asia, the company provides community gathering places for millions of people daily and generates billions in annual sales.
This story was originally published on Fintel.
Note: The author’s views and opinions expressed in this article do not necessarily reflect those of Nasdaq, Inc.
