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Investing.com - Piper Sandler has reiterated its Overweight rating and $200.00 price target on Simon Property Group (NYSE:SPG), following a meeting with the company’s leadership team. The stock, currently trading near its 52-week high of $190.13, has demonstrated strong momentum with a 15.2% return over the past year. According to InvestingPro analysis, the company maintains a "GREAT" overall financial health score of 3.01.
The research firm highlighted Simon Property Group’s leadership transition strategy, noting that while CEO succession isn’t expected soon, the company is introducing its next generation of senior leadership. This includes newly appointed COO Eli Simon and Co-Presidents Jon Murphy and Eric Sadi, who participated in the meeting alongside CFO Brian McDade and IR Tom Ward. The company’s strong leadership has helped maintain an impressive 32-year streak of consecutive dividend payments, currently offering a 4.8% yield.
Piper Sandler observed that the new leadership team maintains the same disciplined approach instilled by current CEO David Simon. The firm pointed out that Eli Simon followed a similar career path as David Simon, working outside the company before joining in 2019, consistent with how David was mentored before becoming CEO in 1995.
The research note emphasized Simon Property Group’s continued focus on cash flow and dividend growth, with malls regaining prominence in the retail hierarchy. The company is seeing growing redevelopment opportunities driven by broad-based demand.
Despite economic concerns, Piper Sandler reported that Simon Property Group noted strength in back-to-school sales, suggesting resilient consumer spending in the retail sector.
In other recent news, Simon Property Group reported impressive financial results for the second quarter of 2025, with earnings per share reaching $1.70, exceeding the forecasted $1.55. The company also reported revenue of $1.5 billion, surpassing the anticipated $1.38 billion. This marks an 8.7% revenue surprise, showcasing strong financial performance. Additionally, S&P Global Ratings upgraded Simon Property Group to an ’A’ rating, citing strong operating performance and a stable outlook, even amidst macroeconomic challenges. Despite this positive outlook, Stifel downgraded the company’s stock from Buy to Hold due to valuation concerns, while maintaining a price target of $179.00. However, Stifel also noted that Simon’s Real Estate Funds From Operations per share met consensus estimates, slightly exceeding their own projection. In leadership news, Eli Simon was promoted to Chief Operating Officer, where he will collaborate with David Simon on various strategic initiatives.
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