Simon Property Group Inc Expected to Earn Q1 2020 Earnings of $2.97 Per Share (NYSE:SPG)

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Simon Property Group Inc (NYSE:SPG) – Equities researchers at SunTrust Banks issued their Q1 2020 EPS estimates for shares of Simon Property Group in a note issued to investors on Tuesday, February 11th. SunTrust Banks analyst K. Kim expects that the real estate investment trust will post earnings of $2.97 per share for the quarter. SunTrust Banks also issued estimates for Simon Property Group’s Q2 2020 earnings at $3.10 EPS, Q3 2020 earnings at $3.18 EPS and Q4 2020 earnings at $3.40 EPS.

A number of other research analysts also recently commented on SPG. Wells Fargo & Co lowered their price objective on shares of Simon Property Group from $182.00 to $168.00 and set an “overweight” rating on the stock in a research report on Tuesday. They noted that the move was a valuation call. Cfra lowered their price objective on shares of Simon Property Group from $145.00 to $120.00 and set a “sell” rating on the stock in a research report on Friday. Raymond James lowered their price objective on shares of Simon Property Group from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. BMO Capital Markets reaffirmed an “in-line” rating and set a $147.00 price objective on shares of Simon Property Group in a research report on Wednesday, February 5th. Finally, ValuEngine raised shares of Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $169.54.

SPG stock opened at $138.92 on Friday. Simon Property Group has a 52-week low of $130.01 and a 52-week high of $186.40. The company’s 50 day simple moving average is $143.63 and its 200-day simple moving average is $149.46. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.08 and a quick ratio of 3.34. The firm has a market capitalization of $44.60 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.69 and a beta of 0.59.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.95 by ($1.29). Simon Property Group had a net margin of 36.52% and a return on equity of 65.24%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in shares of Simon Property Group by 20.1% during the 4th quarter. Advisors Asset Management Inc. now owns 67,705 shares of the real estate investment trust’s stock worth $10,085,000 after buying an additional 11,337 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Simon Property Group by 133.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 89,768 shares of the real estate investment trust’s stock worth $13,372,000 after buying an additional 51,244 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth $77,000. AQR Capital Management LLC boosted its holdings in shares of Simon Property Group by 28.7% during the 4th quarter. AQR Capital Management LLC now owns 893,278 shares of the real estate investment trust’s stock worth $133,062,000 after buying an additional 199,175 shares during the period. Finally, Prentice Capital Management LP bought a new stake in shares of Simon Property Group during the 4th quarter worth $3,791,000. 90.80% 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, February 28th. Investors of record on Friday, February 14th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date is Thursday, February 13th. Simon Property Group’s payout ratio is presently 69.77%.

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.

Further Reading: Growth Stocks

Earnings History and Estimates for Simon Property Group (NYSE:SPG)

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