Simon Property Group, Inc. (NYSE:SPG) updated its FY17 earnings guidance on Friday. The company provided EPS guidance of $11.17-11.22 for the period, compared to the Thomson Reuters consensus EPS estimate of $11.26.
Several equities research analysts recently weighed in on the company. Royal Bank Of Canada restated a hold rating and set a $176.00 target price on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus reduced their price objective on Simon Property Group from $200.00 to $195.00 and set a buy rating for the company in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Simon Property Group from a hold rating to a buy rating and set a $182.00 price objective for the company in a research note on Wednesday, October 11th. Mizuho set a $183.00 price objective on Simon Property Group and gave the company a buy rating in a research note on Sunday, October 29th. Finally, Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a buy rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $191.45.
Simon Property Group, Inc. (NYSE SPG) opened at $163.75 on Monday. Simon Property Group, Inc. has a 12-month low of $150.15 and a 12-month high of $189.25. The firm has a market capitalization of $104,762.34, a PE ratio of 14.87, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.88 by $0.01. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 earnings per share. analysts predict that Simon Property Group, Inc. will post 11.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be paid a dividend of $1.85 per share. The ex-dividend date is Wednesday, November 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 annualized dividend and a yield of 4.52%. Simon Property Group’s dividend payout ratio is currently 126.98%.
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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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