Analysts Offer Predictions for Simon Property Group’s FY2018 Earnings (SPG)

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.

Several other equities research analysts have also issued reports on SPG. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Barclays reaffirmed a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a research report on Wednesday, January 31st. Boenning Scattergood reaffirmed a “buy” rating and set a $240.00 target price on shares of Simon Property Group in a research report on Thursday, February 1st. ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, JPMorgan Chase lowered Simon Property Group from an “overweight” rating to a “neutral” rating in a research report on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $184.87.

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.

Earnings History and Estimates for Simon Property Group (NYSE:SPG)

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