Simon Property Group Sees Unusually High Options Volume (SPG)
Simon Property Group (NYSE:SPG) saw some unusual options trading activity on Tuesday. Investors acquired 609 call options on the company, StockRatingsNetwork reports. This represents an increase of approximately 114% compared to the average volume of 285 call options.
SPG has been the subject of a number of recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of Simon Property Group in a research note on Monday. They now have a $204.00 price target on the stock, up previously from $199.00. Separately, analysts at Jefferies Group raised their price target on shares of Simon Property Group from $193.00 to $198.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Simon Property Group in a research note on Tuesday, July 29th. They now have a $192.00 price target on the stock, up previously from $182.00. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $187.71.
Shares of Simon Property Group (NYSE:SPG) traded down 0.54% during mid-day trading on Tuesday, hitting $167.13. 1,250,857 shares of the company’s stock traded hands. Simon Property Group has a 1-year low of $134.026 and a 1-year high of $172.72. The stock’s 50-day moving average is $168.1 and its 200-day moving average is $159.7. The company has a market cap of $51.938 billion and a price-to-earnings ratio of 36.44.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $2.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.13 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Simon Property Group will post $9.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.22.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.