$1.38 Billion in Sales Expected for Simon Property Group Inc (SPG) This Quarter

Wall Street brokerages expect that Simon Property Group Inc (NYSE:SPG) will report $1.38 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Simon Property Group’s earnings, with the highest sales estimate coming in at $1.40 billion and the lowest estimate coming in at $1.36 billion. Simon Property Group reported sales of $1.35 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The firm is expected to announce its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that Simon Property Group will report full-year sales of $1.38 billion for the current year, with estimates ranging from $5.58 billion to $5.71 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.88 billion per share, with estimates ranging from $5.74 billion to $5.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Simon Property Group.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $3.12. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share.

SPG has been the subject of a number of recent research reports. Argus lowered their price objective on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the company a “buy” rating in a research note on Monday, October 30th. BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the company a “buy” rating in a research note on Friday, October 27th. Royal Bank of Canada reiterated a “hold” rating and set a $176.00 price objective on shares of Simon Property Group in a research note on Thursday, November 2nd. Finally, Barclays restated a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $191.11.

Simon Property Group (SPG) opened at $156.09 on Friday. The stock has a market capitalization of $49,940.00, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.98 and a beta of 0.55. Simon Property Group has a one year low of $150.15 and a one year high of $187.35. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.93 and a current ratio of 1.75.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $7.80 annualized dividend and a dividend yield of 5.00%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is presently 125.00%.

In related news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the sale, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at $393,765.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.42% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Artisan Partners Limited Partnership bought a new stake in Simon Property Group during the third quarter valued at about $41,999,000. Milestone Group Inc. boosted its stake in shares of Simon Property Group by 75.1% in the third quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock worth $375,000 after acquiring an additional 1,000 shares during the period. Advantus Capital Management Inc boosted its stake in shares of Simon Property Group by 1.6% in the third quarter. Advantus Capital Management Inc now owns 470,137 shares of the real estate investment trust’s stock worth $75,697,000 after acquiring an additional 7,344 shares during the period. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Simon Property Group by 49.1% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 3,946 shares of the real estate investment trust’s stock worth $635,000 after acquiring an additional 1,300 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Simon Property Group by 7.6% in the third quarter. Prudential Financial Inc. now owns 1,328,200 shares of the real estate investment trust’s stock worth $213,854,000 after acquiring an additional 93,899 shares during the period. 47.57% of the stock is owned by institutional investors.

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

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