Simon Property Group Inc (NYSE:SPG) – Investment analysts at Jefferies Group boosted their FY2019 earnings per share estimates for shares of Simon Property Group in a report released on Tuesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $12.54 for the year, up from their prior estimate of $12.50.

A number of other equities research analysts also recently weighed in on SPG. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a report on Friday. Stifel Nicolaus reissued a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a report on Thursday, October 12th. Mizuho set a $183.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, October 29th. SunTrust Banks set a $170.00 target price on Simon Property Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Raymond James Financial set a $185.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $191.11.

Simon Property Group (SPG) traded down $0.01 on Thursday, hitting $164.24. The stock had a trading volume of 1,805,213 shares, compared to its average volume of 1,363,254. Simon Property Group has a 12 month low of $150.15 and a 12 month high of $187.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. The firm has a market capitalization of $105,082.23, a P/E ratio of 28.97, a P/E/G ratio of 2.05 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $2.70 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Simon Property Group by 0.7% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 7 shares during the period. WFG Advisors LP grew its position in Simon Property Group by 1.3% in the second quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 23 shares during the last quarter. South Texas Money Management Ltd. grew its position in Simon Property Group by 1.7% in the second quarter. South Texas Money Management Ltd. now owns 2,760 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 45 shares during the last quarter. Segment Wealth Management LLC grew its position in Simon Property Group by 3.5% in the second quarter. Segment Wealth Management LLC now owns 2,405 shares of the real estate investment trust’s stock valued at $389,000 after acquiring an additional 82 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Simon Property Group by 1.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,596 shares of the real estate investment trust’s stock valued at $2,523,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

In related news, SVP Steven K. Broadwater sold 621 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.42% of the stock is currently owned by company insiders.

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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.

Earnings History and Estimates for Simon Property Group (NYSE:SPG)

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