Analysts expect that Simon Property Group (NYSE:SPG) will post $1.38 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Simon Property Group’s earnings, with the highest sales estimate coming in at $1.40 billion and the lowest estimate coming in at $1.36 billion. Simon Property Group reported sales of $1.35 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The business is scheduled to issue its next earnings results before the market opens on Friday, April 27th.
According to Zacks, analysts expect that Simon Property Group will report full year sales of $5.64 billion for the current year, with estimates ranging from $5.48 billion to $5.71 billion. For the next year, analysts anticipate that the business will report sales of $5.86 billion per share, with estimates ranging from $5.58 billion to $5.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Simon Property Group.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, meeting the consensus estimate of $3.12. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year.
A number of equities analysts recently issued reports on SPG shares. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Barclays restated a “buy” rating and issued a $190.00 target price on shares of Simon Property Group in a research note on Wednesday, January 31st. Boenning Scattergood restated a “buy” rating and issued a $240.00 target price on shares of Simon Property Group in a research note on Thursday, February 1st. ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase lowered Simon Property Group from an “overweight” rating to a “neutral” rating in a research note on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Simon Property Group has a consensus rating of “Hold” and an average price target of $185.61.
SPG stock traded up $0.96 during midday trading on Tuesday, reaching $153.24. The stock had a trading volume of 1,630,359 shares, compared to its average volume of 1,849,987. The firm has a market capitalization of $48,604.58, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.57. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.75 and a quick ratio of 1.75. Simon Property Group has a 52-week low of $147.28 and a 52-week high of $175.82.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 317 shares during the last quarter. RFG Advisory Group LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $200,000. Partnervest Advisory Services LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $204,000. Murphy Capital Management Inc. purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $206,000. Finally, Advisory Services Network LLC raised its stake in shares of Simon Property Group by 822.4% during the 4th quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 1,102 shares during the last quarter. Institutional investors and hedge funds own 94.79% of the company’s stock.
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About Simon Property Group
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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