Simon Property Group, Inc. (NYSE:SPG) – Research analysts at Boenning Scattergood increased their FY2017 earnings per share estimates for shares of Simon Property Group in a research report issued to clients and investors on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings of $11.18 per share for the year, up from their previous forecast of $11.16. Boenning Scattergood has a “Buy” rating and a $240.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Vetr downgraded shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price target for the company. in a research note on Tuesday, May 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Simon Property Group in a research note on Monday, April 17th. Mizuho upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $175.00 to $185.00 in a research note on Tuesday, June 20th. Finally, Argus decreased their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Simon Property Group currently has a consensus rating of “Buy” and an average price target of $194.88.

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Simon Property Group (NYSE:SPG) opened at 164.53 on Monday. The company has a market cap of $51.14 billion, a price-to-earnings ratio of 29.32 and a beta of 0.58. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $223.07. The company’s 50 day moving average is $160.11 and its 200 day moving average is $168.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, topping the consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. Simon Property Group’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.63 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.38%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, August 15th. Simon Property Group’s payout ratio is presently 124.33%.

Institutional investors have recently made changes to their positions in the stock. Norway Savings Bank boosted its position in shares of Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 275 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares during the last quarter. Alpha Windward LLC boosted its position in shares of Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in shares of Simon Property Group during the first quarter worth approximately $138,000. Finally, Israel Discount Bank of New York acquired a new position in shares of Simon Property Group during the first quarter worth approximately $146,000. 95.64% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Company Profile

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.

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

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