Brokerages Anticipate Simon Property Group, Inc. (SPG) Will Post Earnings of $2.87 Per Share
Equities analysts predict that Simon Property Group, Inc. (NYSE:SPG) will post $2.87 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Simon Property Group’s earnings. The highest EPS estimate is $2.90 and the lowest is $2.84. Simon Property Group posted earnings of $1.61 per share in the same quarter last year, which indicates a positive year over year growth rate of 78.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Simon Property Group will report full-year earnings of $11.20 per share for the current fiscal year, with EPS estimates ranging from $11.15 to $11.24. For the next year, analysts forecast that the firm will report earnings of $12.19 per share, with EPS estimates ranging from $12.03 to $12.27. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Simon Property Group.
Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $2.63 EPS. The company’s revenue was up 3.5% on a year-over-year basis.
A number of equities analysts recently issued reports on the company. Mizuho raised Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price objective for the company in a report on Tuesday, May 30th. Stifel Nicolaus assumed coverage on Simon Property Group in a report on Friday, July 14th. They issued a “hold” rating and a $170.00 price objective for the company. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub lowered Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Barclays PLC increased their price objective on Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $195.01.
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Simon Property Group (NYSE:SPG) traded up 1.30% during mid-day trading on Thursday, hitting $160.80. The stock had a trading volume of 1,456,841 shares. The company has a 50-day moving average of $159.61 and a 200-day moving average of $164.01. Simon Property Group has a 12-month low of $150.15 and a 12-month high of $218.58. The stock has a market cap of $49.98 billion, a price-to-earnings ratio of 28.66 and a beta of 0.58.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is 127.89%.
Large investors have recently made changes to their positions in the company. Kissinger Financial Services LLC lifted its position in shares of Simon Property Group by 1.4% during the 2nd quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock valued at $3,566,000 after acquiring an additional 294 shares during the last quarter. HPM Partners LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at $2,755,000. Principal Financial Group Inc. lifted its holdings in shares of Simon Property Group by 9.7% in the second quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after purchasing an additional 542,743 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Simon Property Group by 16.6% in the first quarter. Private Advisor Group LLC now owns 5,150 shares of the real estate investment trust’s stock valued at $877,000 after purchasing an additional 734 shares in the last quarter. Finally, United Services Automobile Association lifted its holdings in shares of Simon Property Group by 0.5% in the first quarter. United Services Automobile Association now owns 130,911 shares of the real estate investment trust’s stock valued at $22,521,000 after purchasing an additional 617 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.
About Simon Property Group
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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