Analysts Set Expectations for Simon Property Group Inc’s Q1 2019 Earnings (SPG)

Simon Property Group Inc (NYSE:SPG) – Analysts at Boenning Scattergood issued their Q1 2019 EPS estimates for shares of Simon Property Group in a research note issued to investors on Tuesday. Boenning Scattergood analyst F. Van. Dijkum expects that the real estate investment trust will earn $3.03 per share for the quarter. Boenning Scattergood has a “Buy” rating and a $240.00 price target on the stock. Boenning Scattergood also issued estimates for Simon Property Group’s Q2 2019 earnings at $3.00 EPS, Q3 2019 earnings at $3.18 EPS, Q4 2019 earnings at $3.45 EPS and FY2019 earnings at $12.66 EPS.

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

A number of other brokerages have also weighed in on SPG. Zacks Investment Research lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price objective on shares of Simon Property Group in a report on Thursday, October 12th. Raymond James Financial set a $185.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a report on Sunday, December 3rd. SunTrust Banks set a $170.00 price objective on shares of Simon Property Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, BMO Capital Markets set a $175.00 price objective on shares of Simon Property Group and gave the stock a “buy” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $191.11.

Shares of Simon Property Group (NYSE:SPG) traded up $0.68 on Wednesday, hitting $165.51. 1,238,631 shares of the stock were exchanged, compared to its average volume of 1,820,000. The company has a market cap of $52,960.00, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group has a 1 year low of $150.15 and a 1 year high of $187.35.

In related news, CAO Steven K. Broadwater sold 621 shares of the company’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. Following the completion of the sale, the chief accounting officer now directly owns 2,290 shares in the company, valued at approximately $393,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.42% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in Simon Property Group by 17.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 115,761 shares of the real estate investment trust’s stock valued at $19,881,000 after buying an additional 17,172 shares during the last quarter. Adams Asset Advisors LLC raised its holdings in Simon Property Group by 85.3% during the 4th quarter. Adams Asset Advisors LLC now owns 7,561 shares of the real estate investment trust’s stock valued at $1,298,000 after buying an additional 3,480 shares during the last quarter. Winslow Asset Management Inc. raised its holdings in Simon Property Group by 0.8% during the 4th quarter. Winslow Asset Management Inc. now owns 50,298 shares of the real estate investment trust’s stock valued at $8,638,000 after buying an additional 400 shares during the last quarter. First American Trust FSB raised its holdings in Simon Property Group by 20.6% during the 4th quarter. First American Trust FSB now owns 21,753 shares of the real estate investment trust’s stock valued at $3,736,000 after buying an additional 3,711 shares during the last quarter. Finally, Bogart Wealth LLC raised its holdings in Simon Property Group by 26.5% during the 4th quarter. Bogart Wealth LLC now owns 9,582 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 2,005 shares during the last quarter. Institutional investors own 47.38% 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.

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

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