Simon Property Group, Inc. (NYSE:SPG) – Equities research analysts at Boenning Scattergood decreased their Q1 2018 EPS estimates for shares of Simon Property Group in a research note issued on Monday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings per share of $2.93 for the quarter, down from their prior forecast of $2.97. Boenning Scattergood currently has a “Buy” rating and a $240.00 price target on the stock. Boenning Scattergood also issued estimates for Simon Property Group’s Q2 2018 earnings at $2.94 EPS and Q3 2018 earnings at $3.03 EPS.
A number of other research firms have also recently issued reports on SPG. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 price objective on shares of Simon Property Group in a report on Thursday, October 12th. Barclays PLC upped their price objective on Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a report on Wednesday, October 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a report on Monday, July 17th. Finally, BidaskClub upgraded Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $191.79.
COPYRIGHT VIOLATION NOTICE: This article was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2017/11/02/simon-property-group-inc-spg-to-post-q1-2018-earnings-of-2-93-per-share-boenning-scattergood-forecasts.html. Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm posted $2.70 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kissinger Financial Services LLC lifted its holdings in Simon Property Group by 1.4% in the 2nd quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock worth $3,566,000 after buying an additional 294 shares during the period. Principal Financial Group Inc. lifted its holdings in Simon Property Group by 9.7% in the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock worth $988,797,000 after buying an additional 542,743 shares during the period. Thrivent Financial For Lutherans lifted its holdings in Simon Property Group by 1.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock worth $28,021,000 after buying an additional 2,530 shares during the period. Eaton Vance Management lifted its holdings in Simon Property Group by 110.5% in the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after buying an additional 811,457 shares during the period. Finally, Partners Value Investments LP purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $11,647,000. Institutional investors and hedge funds own 95.10% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $1.85 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $7.40 annualized dividend and a yield of 4.76%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio (DPR) is 126.98%.
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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