Research Analysts Issue Forecasts for Simon Property Group Inc’s FY2019 Earnings (SPG)

Simon Property Group Inc (NYSE:SPG) – Analysts at Jefferies Group boosted their FY2019 earnings estimates for shares of Simon Property Group in a research report issued on Tuesday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings per share of $12.54 for the year, up from their prior estimate of $12.50.

A number of other equities analysts also recently commented on the company. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research report on Wednesday, October 11th. BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Argus lowered their price objective on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “hold” rating and set a $176.00 price objective on shares of Simon Property Group in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $191.11.

Shares of Simon Property Group (NYSE:SPG) traded down $3.15 during trading on Thursday, hitting $164.25. The stock had a trading volume of 1,947,562 shares, compared to its average volume of 1,730,000. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $187.35. The firm has a market capitalization of $52,550.00, a P/E ratio of 29.02, a PEG ratio of 2.06 and a beta of 0.62. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.01. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. Simon Property Group’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.70 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Koch Industries Inc. acquired a new position in Simon Property Group in the second quarter valued at approximately $456,000. Artisan Partners Limited Partnership purchased a new stake in Simon Property Group in the third quarter valued at approximately $41,999,000. Milestone Group Inc. lifted its stake in Simon Property Group by 75.1% in the third quarter. Milestone Group Inc. now owns 2,331 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 1,000 shares during the last quarter. Advantus Capital Management Inc lifted its stake in Simon Property Group by 1.6% in the third quarter. Advantus Capital Management Inc now owns 470,137 shares of the real estate investment trust’s stock valued at $75,697,000 after buying an additional 7,344 shares during the last quarter. Finally, Brookfield Asset Management Inc. lifted its stake in Simon Property Group by 28.4% in the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock valued at $505,406,000 after buying an additional 690,169 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Steven K. Broadwater sold 621 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total value of $106,780.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.42% of the company’s stock.

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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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