$1.39 Billion in Sales Expected for Simon Property Group Inc (SPG) This Quarter
Wall Street analysts expect Simon Property Group Inc (NYSE:SPG) to post $1.39 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Simon Property Group’s earnings. The highest sales estimate is $1.43 billion and the lowest is $1.33 billion. Simon Property Group posted sales of $1.35 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3%. The business is expected to report its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Simon Property Group will report full year sales of $1.39 billion for the current financial year, with estimates ranging from $5.35 billion to $5.84 billion. For the next year, analysts anticipate that the company will post sales of $5.85 billion per share, with estimates ranging from $5.54 billion to $6.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Simon Property Group.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.12. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 EPS.
Shares of Simon Property Group (NYSE SPG) traded down $3.13 during midday trading on Thursday, hitting $156.52. 3,170,000 shares of the stock were exchanged, compared to its average volume of 1,795,090. The firm has a market cap of $100,136.80, a P/E ratio of 13.95, a P/E/G ratio of 1.98 and a beta of 0.55. Simon Property Group has a 1 year low of $150.15 and a 1 year high of $187.35. The company has a quick ratio of 0.93, a current ratio of 1.75 and a debt-to-equity ratio of 5.87.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Tuesday, February 13th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is presently 118.40%.
In related news, CAO Steven K. Broadwater sold 621 shares of the business’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 transaction, the chief accounting officer now owns 2,290 shares in the company, valued at approximately $393,765.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.42% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 317 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in 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 purchasing an additional 7 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Simon Property Group by 791.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,455 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 4,843 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in Simon Property Group during the 3rd quarter valued at $204,000. Finally, Partnervest Advisory Services LLC bought a new stake in Simon Property Group during the 4th quarter valued at $204,000. Institutional investors and hedge funds own 47.59% 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.
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