Ronald Kamdem, an analyst from Morgan Stanley, maintained the Hold rating on Simon Property. The associated price target remains the same with $205.00.
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Ronald Kamdem has given his Hold rating due to a combination of factors that balance near‑term headwinds with solid underlying fundamentals and an unchanged $205 price target. While reported headline FFO came in below expectations because of weaker OPI results and higher stock‑based compensation, core real estate FFO exceeded forecasts and management modestly raised full‑year real estate FFO guidance.
He also points to strengthening operating trends, including higher domestic and portfolio NOI growth, healthy occupancy levels, and rising sales per square foot, alongside a dividend increase and ongoing share repurchases. However, the drag from OPI, the slight reduction in the development pipeline and liquidity, and the limited upside to his existing target price lead him to see the risk‑reward as balanced rather than compelling, supporting a Hold recommendation.
In another report released today, Stifel Nicolaus also maintained a Hold rating on the stock with a $194.00 price target.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPG in relation to earlier this year.