02:00 AM EDT, 08/05/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $2 to $166, valuing SPG shares at 12.7x our 2026 FFO estimate, vs. the three-year average forward multiple of 11.3x. We trim our 2025 FFO estimate by $0.04 to $12.55 and lower 2026 by $0.08 to $13.10. We see SPG's acquisition of the remaining interest in the retail shopping center at Brickell City Centre in Miami as accretive to 2026 earnings, with management claiming to have purchased it at a higher cap rate than the entire portfolio and below replacement cost with no competing retail centers in the area due to traffic patterns. Tariffs continue to create uncertainty for tenants while increasing smaller-shop operating costs with management believing a tariff resolution would improve its 2026 view. The Mills' high occupancy (99.3%) provides ability to optimize occupancy with tenant replacement from higher quality merchandisers. Management did admit that retailers still hold the leverage with the ability to close stores, go online, and leave underperforming geographic markets.