Jefferies Financial Group Comments on Simon Property Group, Inc.’s Q1 2021 Earnings (NYSE:SPG)


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Simon Property Group, Inc. (NYSE:SPG) – Research analysts at Jefferies Financial Group lowered their Q1 2021 earnings per share (EPS) estimates for Simon Property Group in a note issued to investors on Wednesday, January 13th. Jefferies Financial Group analyst L. Tsai now expects that the real estate investment trust will post earnings per share of $2.28 for the quarter, down from their prior forecast of $2.30. Jefferies Financial Group also issued estimates for Simon Property Group’s Q3 2021 earnings at $2.35 EPS, Q4 2021 earnings at $2.59 EPS, FY2021 earnings at $9.49 EPS, Q3 2022 earnings at $2.36 EPS, Q4 2022 earnings at $2.61 EPS and FY2022 earnings at $9.87 EPS.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 9th. The real estate investment trust reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.77). The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Simon Property Group had a net margin of 32.88% and a return on equity of 65.60%. Simon Property Group’s quarterly revenue was down 25.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share.

SPG has been the topic of a number of other research reports. Edward Jones lowered Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 15th. Argus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 2nd. Wells Fargo & Company boosted their target price on shares of Simon Property Group from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 11th. ValuEngine upgraded shares of Simon Property Group from a “strong sell” rating to a “sell” rating in a research note on Monday, November 23rd. Finally, Truist upped their target price on shares of Simon Property Group from $72.00 to $94.00 in a report on Friday, December 11th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $87.47.

SPG stock opened at $88.87 on Thursday. The firm has a market cap of $27.19 billion, a PE ratio of 15.62, a PEG ratio of 1.32 and a beta of 1.35. The company has a debt-to-equity ratio of 11.89, a quick ratio of 3.91 and a current ratio of 3.91. The firm’s 50 day moving average price is $86.44 and its 200-day moving average price is $71.71. Simon Property Group has a one year low of $42.25 and a one year high of $149.89.

A number of large investors have recently modified their holdings of SPG. Lindbrook Capital LLC grew its holdings in Simon Property Group by 38.8% during the third quarter. Lindbrook Capital LLC now owns 580 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 162 shares during the period. Cetera Advisors LLC raised its position in Simon Property Group by 2.6% in the third quarter. Cetera Advisors LLC now owns 6,478 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 165 shares during the period. Sontag Advisory LLC lifted its stake in shares of Simon Property Group by 5.4% in the third quarter. Sontag Advisory LLC now owns 3,356 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 173 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Simon Property Group by 6.0% during the 3rd quarter. Cetera Investment Advisers now owns 3,328 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 189 shares during the last quarter. Finally, Wakefield Asset Management LLLP increased its stake in Simon Property Group by 1.9% during the third quarter. Wakefield Asset Management LLLP now owns 10,481 shares of the real estate investment trust’s stock valued at $678,000 after purchasing an additional 198 shares during the last quarter. 84.72% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 22nd. Shareholders of record on Thursday, December 24th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Wednesday, December 23rd. Simon Property Group’s dividend payout ratio is currently 43.19%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged 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)

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