Zacks: Brokerages Expect Simon Property Group Inc (SPG) Will Announce Earnings of $3.11 Per Share

Analysts expect Simon Property Group Inc (NYSE:SPG) to announce earnings per share of $3.11 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Simon Property Group’s earnings. The highest EPS estimate is $3.13 and the lowest is $3.09. Simon Property Group posted earnings per share of $2.91 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The business is expected to issue its next quarterly earnings report on Tuesday, January 30th.

On average, analysts expect that Simon Property Group will report full-year earnings of $11.21 per share for the current year, with EPS estimates ranging from $11.17 to $11.23. For the next year, analysts forecast that the business will post earnings of $12.15 per share, with EPS estimates ranging from $12.04 to $12.22. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Simon Property Group.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm posted $2.70 EPS. The firm’s revenue was up 3.4% on a year-over-year basis.

SPG has been the subject of a number of research analyst reports. BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Argus dropped their price target on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $176.00 price target on shares of Simon Property Group in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $191.11.

In related news, SVP Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction on Friday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.42% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 7 shares in the last quarter. WFG Advisors LP lifted its stake in shares of Simon Property Group by 1.3% during the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 23 shares in the last quarter. South Texas Money Management Ltd. lifted its stake in shares of Simon Property Group by 1.7% during the 2nd quarter. South Texas Money Management Ltd. now owns 2,760 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 45 shares in the last quarter. Segment Wealth Management LLC lifted its stake in shares of Simon Property Group by 3.5% during the 2nd quarter. Segment Wealth Management LLC now owns 2,405 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 82 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Simon Property Group by 1.1% during the 2nd 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 buying an additional 173 shares in the last quarter. Institutional investors own 47.38% of the company’s stock.

Simon Property Group (NYSE:SPG) traded up $0.68 during trading hours on Friday, reaching $165.51. 1,238,631 shares of the company’s stock were exchanged, compared to its average volume of 1,820,000. 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 has a fifty-two week low of $150.15 and a fifty-two week high of $187.35. The company has a market cap of $52,960.00, a P/E ratio of 29.24, a PEG ratio of 2.06 and a beta of 0.62.

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

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