01:05 PM EDT, 05/13/2026 (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 increase our 12-month target by $12 to $220, valuing SPG shares at 16.8x our 2026 FFO estimate, a premium to the one-year average forward multiple of 14.3x due to an improving outlook for anchor tenants and strong re-leasing spreads. We increase our 2026 FFO estimate by $0.02 to $13.10 and increase 2027 by $0.27 to $13.67. SPG has gained momentum in recent quarters with improving re-leasing spreads and a redevelopment portfolio now expected to fuel higher NOI growth in future years. We believe SPG is likely to maintain 5%-7% comparable sales growth throughout 2026 with new leases in the 22%-27% range for the year (outperforming our prior expectations). Luxury stores continue to see the strongest growth in sales per square foot, while management noted that food and beverage sales were flat Y/Y despite strong foot traffic. Interest rate headwinds are expected as a $0.05 drag on FFO due to the prior outlook incorporating additional rate cuts vs. the current consensus for the year.