Is Simon property group SPG considered a good long term investment by wall street analysts as of 2024 looking into the future of the next 5-10 years

**Simon Property Group (SPG) is considered a good long-term investment by Wall Street analysts.** Here's the analysis to support this conclusion:

1. **Strong Analyst Consensus and Price Target**: The consensus rating for SPG is "Strong Buy" as of August 6, 2024. This indicates that analysts have a positive outlook on the stock. The average price target set by analysts is $158.13, which suggests that they believe the stock has potential for growth.

2. **Financial Strength and Growth Prospects**: Simon Property Group has a solid financial position with a low debt-to-assets ratio and a strong corporate credit rating. The company's focus on premium acquisitions, transformative redevelopments, and omnichannel retail strategies positions it well for growth. Analysts expect the company's 2024 total revenues to increase by 3.2% year-over-year.
3. **Dividend Commitment and Growth**: Simon Property Group has a history of increasing dividends, with a recent increase to $2.05 for the third quarter, representing a 7.9% year-over-year increase. The company's commitment to dividend growth is a positive sign for investors looking for income.
4. **Market Conditions and Future Outlook**: Despite challenges in the retail industry, Simon Property Group's diversified portfolio, strong balance sheet, and strategic initiatives suggest resilience and potential for long-term growth. The company's focus on mixed-use development and international markets is expected to encourage sustainable growth.
5. **Stock Price Forecast**: Long-term forecasts for SPG stock price are positive, with projections indicating potential growth to $183.926 by 2029. This aligns with the expectations of Wall Street analysts who often look beyond the immediate term.
6. **Earnings and Revenue Estimates**: The company's revised full-year guidance suggests a range of $12.80 to $12.90 per share, up from $12.51 per share in the previous year. This indicates that analysts expect earnings growth to continue.

In conclusion, the positive analyst consensus, strong price targets, and the company's financial strength, growth prospects, and commitment to dividends make Simon Property Group a good long-term investment according to Wall Street analysts as of 2024.