Simon Property Group
About: 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.
Employees: 3,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
55% more first-time investments, than exits
New positions opened: 119 | Existing positions closed: 77
36% more call options, than puts
Call options by funds: $416M | Put options by funds: $305M
2% more funds holding
Funds holding: 1,083 [Q2] → 1,110 (+27) [Q3]
10% more repeat investments, than reductions
Existing positions increased: 423 | Existing positions reduced: 386
5% more capital invested
Capital invested by funds: $45.2B [Q2] → $47.3B (+$2.14B) [Q3]
5.05% less ownership
Funds ownership: 91.5% [Q2] → 86.45% (-5.05%) [Q3]
8% less funds holding in top 10
Funds holding in top 10: 24 [Q2] → 22 (-2) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
Deutsche Bank Omotayo Okusanya 67% 1-year accuracy 14 / 21 met price target | 12%upside $195 | Hold Initiated | 17 Dec 2024 |
Mizuho Vikram Malhorta 67% 1-year accuracy 12 / 18 met price target | 5%upside $182 | Neutral Maintained | 4 Dec 2024 |
Financial journalist opinion
Based on 11 articles about SPG published over the past 30 days
