dbcc memorystatus - buffer pool target on VM higher than max memory

I'm doing some digging into potential memory/configuration problems on a sql server 2012 SP2. I stumbled upon something that seems a bit strange in the performance counters as well as the dbcc memorystatus information. here's the info from the buffer pool section of dbcc memorystatus:

If i'm reading things correctly the value is the number of 8 KB pages. The server which is a VM has 16 gb of memory total and SQL server is assigned a min/max value of 12GB. The "Target" value of 32751616 gives me about 262GB which just so happens to be the total amount of memory in the VM host. If i check the "target pages" performance counter on the server i see the same number. I'm guessing this hints of the VM not being configured properly but what i'm really wondering is how the sql server will handle this. Will it impact performance / will the server try to commit more memory than is actually available?

Looking at the memory manager things seem to be looking more normal:

I've been searching the web for information about target buffer pool exceeding max memory but I haven't been able to come up with much so any input is much appreciated.

• Edit. Adding a picture of the performance counter.