
SPG Stock Forecast & Price Target
SPG Analyst Ratings
Bulls say
Simon Property Group has demonstrated strong occupancy rates, with an increase of 90 basis points year-over-year to 95.6%, alongside higher average base rents which rose by 3.0% to $57.94 per square foot. The company has also revised its 2023 funds from operations (FFO) guidance upward to $12.15-$12.25 per share, surpassing previous estimates and consensus expectations. Furthermore, strong retailer demand and leasing leverage in higher productivity centers indicate a resilient retail environment, supporting the positive outlook for the company.
Bears say
The financial data reflects a significant decline in net operating income (NOI) from platform investments for Simon Property Group, dropping to $46.0 million in 3Q23 from approximately $87.5 million in the same quarter of the previous year, indicating potential challenges in their investment strategies. Additionally, the company's projected lower funds from operations (FFO) contribution, particularly a decrease of approximately $0.05 attributed to SPARC for 4Q23, further underscores concerns over profitability and operational efficiency. Moreover, the reduced ownership stake in SPRC Group Joint Venture, decreasing from 50% to 33%, signals a strategic shift that may negatively impact future revenue streams from these investments.
This aggregate rating is based on analysts' research of Simon Property Group and is not a guaranteed prediction by Public.com or investment advice.
SPG Analyst Forecast & Price Prediction
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