Q4 2017 EPS Estimates for Simon Property Group, Inc. (NYSE:SPG) Reduced by Analyst
Simon Property Group, Inc. (NYSE:SPG) – Research analysts at Boenning Scattergood cut their Q4 2017 EPS estimates for shares of Simon Property Group in a research report issued to clients and investors on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings per share of $3.12 for the quarter, down from their prior forecast of $3.13. Boenning Scattergood has a “Buy” rating and a $240.00 price target on the stock. Boenning Scattergood also issued estimates for Simon Property Group’s Q1 2018 earnings at $2.97 EPS, Q2 2018 earnings at $2.89 EPS, Q3 2018 earnings at $3.08 EPS, Q4 2018 earnings at $3.27 EPS and FY2018 earnings at $12.21 EPS.
A number of other brokerages have also recently issued reports on SPG. Jefferies Group LLC reissued a “buy” rating and issued a $210.00 target price on shares of Simon Property Group in a report on Monday, April 17th. Barclays PLC dropped their target price on Simon Property Group from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Vetr cut Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 target price for the company. in a report on Tuesday, May 2nd. Finally, Argus decreased their price target on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $194.88.
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Simon Property Group (NYSE SPG) opened at 164.53 on Friday. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $223.07. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 29.32 and a beta of 0.58. The company’s 50-day moving average price is $160.11 and its 200-day moving average price is $168.14.
Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, topping the consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.63 EPS.
Several large investors have recently modified their holdings of SPG. RiverPoint Capital Management LLC boosted its stake in shares of Simon Property Group by 5.1% in the second quarter. RiverPoint Capital Management LLC now owns 2,323 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 112 shares in the last quarter. Boston Private Wealth LLC boosted its stake in shares of Simon Property Group by 5.3% in the second quarter. Boston Private Wealth LLC now owns 1,261 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 63 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Simon Property Group by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 449,262 shares of the real estate investment trust’s stock worth $72,673,000 after buying an additional 2,233 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Simon Property Group during the second quarter worth about $704,000. Finally, Everence Capital Management Inc. boosted its stake in shares of Simon Property Group by 33.9% in the second quarter. Everence Capital Management Inc. now owns 8,293 shares of the real estate investment trust’s stock worth $1,341,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a dividend of $1.80 per share. The ex-dividend date is Tuesday, August 15th. This represents a $7.20 dividend on an annualized basis and a yield of 4.38%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio (DPR) is presently 124.33%.
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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