Analysts Anticipate Simon Property Group (SPG) to Announce $2.90 EPS

Wall Street analysts expect Simon Property Group (NYSE:SPG) to post $2.90 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Simon Property Group’s earnings, with estimates ranging from $2.86 to $2.93. Simon Property Group reported earnings per share of $2.47 in the same quarter last year, which indicates a positive year over year growth rate of 17.4%. The company is scheduled to report its next earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Simon Property Group will report full year earnings of $12.02 per share for the current year, with EPS estimates ranging from $11.95 to $12.10. For the next financial year, analysts forecast that the company will post earnings of $12.59 per share, with EPS estimates ranging from $12.34 to $12.79. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Simon Property Group.

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Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, April 27th. The real estate investment trust reported $2.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.04. Simon Property Group had a return on equity of 50.24% and a net margin of 37.36%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. Simon Property Group’s quarterly revenue was up 4.0% compared to the same quarter last year.

Several brokerages have commented on SPG. ValuEngine downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Boenning Scattergood reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a research report on Thursday, February 1st. Barclays reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research report on Wednesday, January 31st. Wells Fargo reaffirmed an “outperform” rating and issued a $175.00 price objective (down previously from $185.00) on shares of Simon Property Group in a research report on Tuesday, May 1st. Finally, Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Simon Property Group currently has an average rating of “Hold” and an average price target of $184.87.

Institutional investors and hedge funds have recently bought and sold shares of the company. RFG Advisory Group LLC bought a new position in shares of Simon Property Group during the 4th quarter worth $200,000. Partnervest Advisory Services LLC bought a new position in shares of Simon Property Group during the 4th quarter worth $204,000. Murphy Capital Management Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth $206,000. Advisory Services Network LLC grew its position in shares of Simon Property Group by 822.4% during the 4th quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 1,102 shares in the last quarter. Finally, First Merchants Corp bought a new position in shares of Simon Property Group during the 4th quarter worth $213,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SPG traded up $0.50 during midday trading on Friday, hitting $154.18. 1,215,313 shares of the company traded hands, compared to its average volume of 1,832,603. Simon Property Group has a 12-month low of $145.78 and a 12-month high of $173.02. The firm has a market capitalization of $49.43 billion, a PE ratio of 13.75, a PEG ratio of 2.09 and a beta of 0.55. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.89 and a current ratio of 0.89.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Thursday, May 17th will be given a dividend of $1.94 per share. This represents a $7.76 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Wednesday, May 16th. Simon Property Group’s payout ratio is 69.58%.

Simon Property Group Company Profile

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)