Wall Street brokerages expect Simon Property Group Inc (NYSE:SPG) to post earnings per share of $2.84 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Simon Property Group’s earnings, with estimates ranging from $2.77 to $2.92. Simon Property Group posted earnings per share of $2.74 in the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The business is expected to issue its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Simon Property Group will report full year earnings of $12.01 per share for the current financial year, with EPS estimates ranging from $11.95 to $12.12. For the next financial year, analysts forecast that the business will report earnings of $12.59 per share, with EPS estimates ranging from $12.45 to $12.87. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Simon Property Group.
Simon Property Group (NYSE:SPG) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.12. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 EPS.
In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the sale, the chief accounting officer now 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 hyperlink. Insiders own 8.42% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OxFORD Asset Management LLP bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $422,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $2,815,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $219,000. Cetera Investment Advisers bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $353,000. Finally, Brookfield Asset Management Inc. raised its stake in shares of Simon Property Group by 28.4% during the 2nd quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after purchasing an additional 690,169 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.
Simon Property Group (SPG) traded down $0.06 during trading on Friday, hitting $156.09. The stock had a trading volume of 1,909,869 shares, compared to its average volume of 2,072,405. Simon Property Group has a 52 week low of $150.15 and a 52 week high of $187.35. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.75 and a quick ratio of 0.93. The firm has a market cap of $49,940.00, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.96 and a beta of 0.55.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $7.80 annualized dividend and a yield of 5.00%. Simon Property Group’s payout ratio is presently 125.00%.
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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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