Zacks Research Research Analysts Boost Earnings Estimates for Simon Property Group, Inc. (NYSE:SPG)

Simon Property Group, Inc. (NYSE:SPG) – Zacks Research increased their Q2 2024 EPS estimates for shares of Simon Property Group in a report issued on Wednesday, July 31st. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $2.91 per share for the quarter, up from their previous forecast of $2.89. The consensus estimate for Simon Property Group’s current full-year earnings is $12.84 per share. Zacks Research also issued estimates for Simon Property Group’s Q4 2024 earnings at $3.33 EPS, FY2024 earnings at $12.79 EPS, Q1 2025 earnings at $2.89 EPS, Q2 2025 earnings at $2.99 EPS, Q1 2026 earnings at $3.07 EPS and Q2 2026 earnings at $3.10 EPS.

SPG has been the subject of several other reports. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Scotiabank upped their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.89.

Simon Property Group Stock Performance

SPG opened at $151.07 on Friday. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a fifty day moving average price of $150.32 and a 200 day moving average price of $148.04. Simon Property Group has a 1 year low of $102.11 and a 1 year high of $158.50. The stock has a market cap of $49.24 billion, a P/E ratio of 19.24, a P/E/G ratio of 8.92 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $2.74 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.

Institutional Investors Weigh In On Simon Property Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares during the last quarter. Norges Bank purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $2,561,181,000. Charles Schwab Investment Management Inc. lifted its stake in Simon Property Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock worth $504,611,000 after acquiring an additional 72,645 shares in the last quarter. Boston Partners boosted its holdings in Simon Property Group by 4.2% during the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after acquiring an additional 92,648 shares during the period. Finally, Centersquare Investment Management LLC grew its position in Simon Property Group by 4.5% in the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $2.00 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.30%. Simon Property Group’s dividend payout ratio is presently 101.91%.

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.