Simon Property Group Inc (NYSE:SPG) Forecasted to Post Q1 2020 Earnings of $2.97 Per Share

Simon Property Group Inc (NYSE:SPG) – Stock analysts at SunTrust Banks issued their Q1 2020 earnings estimates for shares of Simon Property Group in a report issued on Tuesday, February 11th. SunTrust Banks analyst K. Kim anticipates that the real estate investment trust will post earnings per share of $2.97 for the quarter. SunTrust Banks also issued estimates for Simon Property Group’s Q2 2020 earnings at $3.10 EPS, Q3 2020 earnings at $3.18 EPS and Q4 2020 earnings at $3.40 EPS.

A number of other equities research analysts have also commented on SPG. BMO Capital Markets reissued an “in-line” rating and issued a $147.00 price target on shares of Simon Property Group in a research report on Wednesday, February 5th. BTIG Research lowered their price target on Simon Property Group to $218.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Raymond James lowered their price target on Simon Property Group from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Cfra lowered their price target on Simon Property Group from $145.00 to $120.00 and set a “sell” rating for the company in a research report on Friday. Finally, Wells Fargo & Co lowered their price target on Simon Property Group from $182.00 to $168.00 and set an “overweight” rating for the company in a research report on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $169.54.

NYSE SPG opened at $138.92 on Friday. The firm has a market capitalization of $44.60 billion, a P/E ratio of 20.40, a PEG ratio of 2.69 and a beta of 0.59. The business has a fifty day simple moving average of $143.63 and a 200 day simple moving average of $149.46. Simon Property Group has a 12 month low of $130.01 and a 12 month high of $186.40. The company has a current ratio of 1.08, a quick ratio of 3.34 and a debt-to-equity ratio of 8.42.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.95 by ($1.29). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a return on equity of 65.24% and a net margin of 36.52%. Simon Property Group’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.23 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, February 13th. Simon Property Group’s dividend payout ratio is presently 69.77%.

Several institutional investors have recently made changes to their positions in the company. BerganKDV Wealth Management LLC increased its position in shares of Simon Property Group by 42.5% during the 4th quarter. BerganKDV Wealth Management LLC now owns 248 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 74 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Simon Property Group by 11.2% during the 3rd quarter. Parallel Advisors LLC now owns 841 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 85 shares during the period. Triangle Securities Wealth Management grew its stake in shares of Simon Property Group by 2.3% during the 4th quarter. Triangle Securities Wealth Management now owns 3,724 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 85 shares during the period. Signature Wealth Management Group grew its stake in shares of Simon Property Group by 0.4% during the 4th quarter. Signature Wealth Management Group now owns 20,281 shares of the real estate investment trust’s stock worth $3,021,000 after acquiring an additional 88 shares during the period. Finally, BTC Capital Management Inc. grew its stake in shares of Simon Property Group by 0.3% during the 3rd quarter. BTC Capital Management Inc. now owns 31,876 shares of the real estate investment trust’s stock worth $4,952,000 after acquiring an additional 89 shares during the period. 90.80% of the stock is owned by hedge funds and other institutional investors.

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

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