Simon Property Group (NYSE:SPG) – Jefferies Group raised their FY2018 EPS estimates for Simon Property Group in a report issued on Wednesday, May 16th. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings per share of $12.06 for the year, up from their prior forecast of $12.01.
Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.04. Simon Property Group had a return on equity of 50.24% and a net margin of 37.36%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted $1.53 EPS. The business’s revenue was up 4.0% compared to the same quarter last year.
Shares of Simon Property Group opened at $153.68 on Friday, Marketbeat.com reports. Simon Property Group has a 1 year low of $153.66 and a 1 year high of $155.57. The firm has a market cap of $49.43 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.93.
Hedge funds have recently bought and sold shares of the company. Advisor Partners LLC boosted its stake in Simon Property Group by 7.6% in the 4th quarter. Advisor Partners LLC now owns 4,540 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 322 shares during the period. Bbva Compass Bancshares Inc. boosted its stake in Simon Property Group by 19.3% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 2,193 shares of the real estate investment trust’s stock worth $377,000 after purchasing an additional 355 shares during the period. Wetherby Asset Management Inc. boosted its stake in Simon Property Group by 10.5% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,062 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 387 shares during the period. Moloney Securities Asset Management LLC boosted its stake in Simon Property Group by 10.3% in the 4th quarter. Moloney Securities Asset Management LLC now owns 4,415 shares of the real estate investment trust’s stock worth $758,000 after purchasing an additional 414 shares during the period. Finally, Brinker Capital Inc. boosted its stake in Simon Property Group by 5.3% in the 1st quarter. Brinker Capital Inc. now owns 8,256 shares of the real estate investment trust’s stock worth $1,274,000 after purchasing an additional 417 shares during the period. Institutional investors own 95.36% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Thursday, May 17th will be paid a dividend of $1.94 per share. The ex-dividend date is Wednesday, May 16th. This represents a $7.76 annualized dividend and a dividend yield of 5.05%. Simon Property Group’s payout ratio is 69.58%.
About Simon Property Group
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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