Equities research analysts forecast that Simon Property Group Inc (NYSE:SPG) will report sales of $1.38 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Simon Property Group’s earnings, with estimates ranging from $1.36 billion to $1.40 billion. Simon Property Group posted sales of $1.35 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that Simon Property Group will report full year sales of $1.38 billion for the current fiscal year, with estimates ranging from $5.48 billion to $5.71 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.86 billion per share, with estimates ranging from $5.58 billion to $5.97 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Simon Property Group.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $3.12. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. Simon Property Group’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share.
Shares of Simon Property Group (SPG) traded up $0.29 on Wednesday, hitting $156.57. The company’s stock had a trading volume of 1,376,266 shares, compared to its average volume of 2,000,000. The company has a market capitalization of $50,250.00, a price-to-earnings ratio of 25.09, a PEG ratio of 2.00 and a beta of 0.58. The company has a debt-to-equity ratio of 5.87, a quick ratio of 1.75 and a current ratio of 1.75. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $176.17.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a $1.95 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 annualized dividend and a dividend yield of 4.98%. Simon Property Group’s payout ratio is 125.00%.
In other news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the transaction, the chief accounting officer now directly owns 2,290 shares in the company, valued at $393,765.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.42% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Simon Property Group by 69.7% in the third quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 317 shares in the last quarter. RFG Advisory Group LLC purchased a new position in shares of Simon Property Group in the fourth quarter valued at $200,000. Partnervest Advisory Services LLC purchased a new position in shares of Simon Property Group in the fourth quarter valued at $204,000. Murphy Capital Management Inc. purchased a new position in shares of Simon Property Group in the fourth quarter valued at $206,000. Finally, Advisory Services Network LLC grew its position in shares of Simon Property Group by 822.4% in the fourth quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 1,102 shares in the last quarter. Institutional investors own 47.05% of the company’s stock.
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.
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