Simon Property Group, Inc. (NYSE:SPG) – Jefferies Group lifted their Q4 2017 EPS estimates for Simon Property Group in a research report issued on Wednesday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will earn $3.12 per share for the quarter, up from their previous estimate of $3.11. Jefferies Group has a “Buy” rating and a $200.00 price target on the stock. Jefferies Group also issued estimates for Simon Property Group’s FY2019 earnings at $12.71 EPS.

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, beating the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm posted $2.63 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis.

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SPG has been the topic of several other research reports. Argus cut their price target 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 restated an “equal weight” rating and set a $158.00 price target (down previously from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research lowered 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 price target on Simon Property Group and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $195.01.

Shares of Simon Property Group (NYSE:SPG) opened at 156.66 on Friday. The company has a market capitalization of $48.70 billion, a price-to-earnings ratio of 27.92 and a beta of 0.58. The stock has a 50 day moving average of $159.57 and a 200-day moving average of $165.57. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $219.41.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geneva Advisors LLC boosted its position in shares of Simon Property Group by 4.0% in the first quarter. Geneva Advisors LLC now owns 2,859 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 109 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Simon Property Group during the first quarter valued at about $1,324,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Simon Property Group by 3.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 102,229 shares of the real estate investment trust’s stock valued at $17,586,000 after buying an additional 3,866 shares during the last quarter. SPC Financial Inc. boosted its position in shares of Simon Property Group by 7.7% in the first quarter. SPC Financial Inc. now owns 1,400 shares of the real estate investment trust’s stock valued at $241,000 after buying an additional 100 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Simon Property Group by 72.0% in the first quarter. Canada Pension Plan Investment Board now owns 875,808 shares of the real estate investment trust’s stock valued at $150,665,000 after buying an additional 366,659 shares during the last quarter. Hedge funds and other institutional investors own 95.77% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 4.60%. 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 dividend payout ratio (DPR) is presently 127.89%.

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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