Simon Property Group (SPG) Receiving Somewhat Favorable Media Coverage, Analysis Shows
News articles about Simon Property Group (NYSE:SPG) have trended somewhat positive recently, Accern Sentiment reports. The research firm ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Simon Property Group earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave press coverage about the real estate investment trust an impact score of 46.9498597747166 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media headlines that may have effected Accern Sentiment’s scoring:
- Head-To-Head Survey: Brixmor Property Group (BRX) & Simon Property Group (SPG) (americanbankingnews.com)
- Simon Property Group, Inc. (SPG) – Barclays Maintains Rating And Raises Price Target – Modern Readers (modernreaders.com)
- Simon Property Group: The Dividend Says Buy More – Seeking Alpha (seekingalpha.com)
- [$$] Mall Owners Wave a Finger: We’re Not Dead Yet (finance.yahoo.com)
- Simon Property Group, Inc. (SPG) PT Raised to $190.00 (americanbankingnews.com)
Simon Property Group (NYSE:SPG) traded down 0.41% during mid-day trading on Wednesday, hitting $163.41. 1,194,763 shares of the stock were exchanged. The company has a 50 day moving average of $160.11 and a 200 day moving average of $168.14. Simon Property Group has a 12-month low of $150.15 and a 12-month high of $223.07. The firm has a market cap of $50.79 billion, a P/E ratio of 29.12 and a beta of 0.58.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $2.63 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Simon Property Group will post $6.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a dividend of $1.80 per share. The ex-dividend date is Tuesday, August 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.41%. Simon Property Group’s payout ratio is currently 124.33%.
A number of research firms have recently commented on SPG. Barclays PLC upped their price target on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. BidaskClub upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating on shares of Simon Property Group in a report on Tuesday, July 25th. Finally, Stifel Nicolaus assumed coverage on shares of Simon Property Group in a report on Friday, July 14th. They set a “hold” rating and a $170.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $195.01.
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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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