Simon Properties (SPG) Releases FY12 Earnings Guidance
Simon Properties (SPG) updated its FY12 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.80-7.85 for the period.
Several analysts have also recently commented on the stock. Analysts at Evercore Partners initiated coverage on shares of Simon Properties in a research note to investors on Wednesday. They set an equal weight rating on the stock. On a related note, analysts at Barclays Capital reiterated an overweight rating on shares of Simon Properties in a research note to investors on Monday. They now have a $184.00 price target on the stock. Finally, analysts at Imperial Capital downgraded shares of Simon Properties from an outperform rating to an outperform rating in a research note to investors on Wednesday, October 17th. They now have a $160.00 price target on the stock, down previously from $164.00.
Shares of Simon Properties (SPG) traded down 0.14% during mid-day trading on Thursday, hitting $150.96. Simon Properties (SPG) has a one year low of $115.21 and a one year high of $164.17. The company has a market cap of $45.791 billion and a P/E ratio of 29.96.
Simon Properties last posted its quarterly earnings results on Thursday, October 25th. The company reported $1.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.92 by $0.07. The company’s quarterly revenue was up 14.3% on a year-over-year basis.
Simon Property Group, Inc. (Simon) is a real estate company. Simon owns or has an interest in 392 retail real estate properties, including regional malls, Premium Outlets, The Mills, community/lifestyle centers and international properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia.
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