Media stories about Simon Property Group (NYSE:SPG) have trended somewhat positive on Tuesday, Accern reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Simon Property Group earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned press coverage about the real estate investment trust an impact score of 46.7093803766965 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s rankings:
- Head to Head Analysis: Simon Property Group (SPG) versus Its Competitors (americanbankingnews.com)
- Technical Reports on REIT Equities — Retail Properties of America, Macerich, Realty Income, and Simon Property – Markets Insider (markets.businessinsider.com)
- 3 Hot Stocks to Buy in September (finance.yahoo.com)
- Simon Property Group, Inc. : SPG-US: Dividend Analysis : August 17th, 2017 (record date) : By the numbers : September 15, 2017 (finance.yahoo.com)
- Simon Property Group (SPG) & The Competition Head-To-Head Contrast (americanbankingnews.com)
Several analysts have weighed in on the company. Argus cut their target price on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $158.00 target price (down previously from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research downgraded Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus set a $170.00 target price on Simon Property Group and gave the company a “hold” rating in a research note on Sunday, August 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $193.76.
Simon Property Group (NYSE SPG) traded down 1.11% during mid-day trading on Tuesday, hitting $159.73. The stock had a trading volume of 1,733,721 shares. The stock has a 50 day moving average of $159.49 and a 200-day moving average of $162.53. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $215.56. The firm has a market cap of $49.65 billion, a P/E ratio of 28.47 and a beta of 0.58.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $2.63 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Simon Property Group will post $6.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were issued a dividend of $1.80 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date was Tuesday, August 15th. This represents a $7.20 annualized dividend and a yield of 4.51%. Simon Property Group’s dividend payout ratio is currently 127.89%.
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About Simon Property Group
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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