Analysts expect that Simon Property Group Inc (NYSE:SPG) will report earnings of $3.12 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Simon Property Group’s earnings, with the lowest EPS estimate coming in at $3.09 and the highest estimate coming in at $3.13. Simon Property Group reported earnings per share of $1.64 in the same quarter last year, which indicates a positive year over year growth rate of 90.2%. The company is expected to announce its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Simon Property Group will report full-year earnings of $11.21 per share for the current year, with EPS estimates ranging from $11.17 to $11.23. For the next fiscal year, analysts forecast that the firm will report earnings of $12.15 per share, with EPS estimates ranging from $12.03 to $12.22. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Simon Property Group.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.70 earnings per share.
Several equities research analysts have weighed in on SPG shares. BidaskClub downgraded Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a “buy” rating in a report on Monday, October 30th. BMO Capital Markets started coverage on Simon Property Group in a report on Monday, September 11th. They issued an “outperform” rating and a $175.00 price target for the company. Argus lowered their price target on Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Finally, Zacks Investment Research downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $191.11.
Shares of Simon Property Group (NYSE SPG) traded up $0.18 during midday trading on Friday, reaching $162.25. The company’s stock had a trading volume of 1,420,000 shares, compared to its average volume of 1,980,000. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $51,910.00, a P/E ratio of 14.74, a PEG ratio of 2.19 and a beta of 0.62. Simon Property Group has a fifty-two week low of $150.15 and a fifty-two week high of $188.10.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a $1.85 dividend. This represents a $7.40 annualized dividend and a dividend yield of 4.56%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Wednesday, November 15th. Simon Property Group’s dividend payout ratio (DPR) is presently 130.74%.
Large investors have recently made changes to their positions in the company. HL Financial Services LLC raised its position in Simon Property Group by 195.5% during the second quarter. HL Financial Services LLC now owns 5,881 shares of the real estate investment trust’s stock valued at $951,000 after acquiring an additional 3,891 shares in the last quarter. Global X Management Co. LLC raised its position in Simon Property Group by 11.0% during the second quarter. Global X Management Co. LLC now owns 3,397 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 336 shares in the last quarter. Wetherby Asset Management Inc. raised its position in Simon Property Group by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 3,552 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 49 shares in the last quarter. First Trust Advisors LP raised its position in Simon Property Group by 1.8% during the second quarter. First Trust Advisors LP now owns 217,607 shares of the real estate investment trust’s stock valued at $35,200,000 after acquiring an additional 3,796 shares in the last quarter. Finally, Sigma Planning Corp raised its position in Simon Property Group by 1.1% during the second quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 47.60% of the company’s stock.
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Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
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