Simon Property Group Inc (NYSE:SPG) – Equities researchers at Jefferies Financial Group issued their Q1 2019 earnings per share estimates for shares of Simon Property Group in a research note issued to investors on Monday, October 29th. Jefferies Financial Group analyst O. Okusanya forecasts that the real estate investment trust will post earnings per share of $2.90 for the quarter. Jefferies Financial Group currently has a “$170.72” rating and a $194.00 price objective on the stock. Jefferies Financial Group also issued estimates for Simon Property Group’s Q2 2019 earnings at $2.98 EPS, Q3 2019 earnings at $3.21 EPS, Q4 2019 earnings at $3.42 EPS, FY2019 earnings at $12.53 EPS and FY2020 earnings at $13.05 EPS.
Several other research analysts have also recently commented on the company. Bank of America increased their price target on Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Scotiabank started coverage on Simon Property Group in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. Argus increased their price target on Simon Property Group to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. raised Simon Property Group from a “neutral” rating to an “overweight” rating in a research report on Friday, October 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $195.42.
Simon Property Group (NYSE:SPG) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $8.00 annualized dividend and a yield of 4.26%. Simon Property Group’s dividend payout ratio is 71.36%.
In other news, insider John Rulli sold 1,330 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $177.05, for a total transaction of $235,476.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.64% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SPG. Presima Inc. grew its position in Simon Property Group by 1.2% during the third quarter. Presima Inc. now owns 280,700 shares of the real estate investment trust’s stock worth $49,614,000 after buying an additional 3,300 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Simon Property Group by 3.3% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 43,276 shares of the real estate investment trust’s stock valued at $7,649,000 after purchasing an additional 1,394 shares in the last quarter. Spectrum Management Group Inc. boosted its holdings in shares of Simon Property Group by 82.3% in the 3rd quarter. Spectrum Management Group Inc. now owns 18,921 shares of the real estate investment trust’s stock valued at $3,344,000 after purchasing an additional 8,541 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Simon Property Group by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 76,639 shares of the real estate investment trust’s stock valued at $13,546,000 after purchasing an additional 534 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in shares of Simon Property Group by 1.6% in the 3rd quarter. Intact Investment Management Inc. now owns 45,500 shares of the real estate investment trust’s stock valued at $8,042,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 92.72% of the company’s stock.
About Simon Property Group
Simon is a global leader 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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