Q3 2024 Earnings Estimate for Simon Property Group, Inc. Issued By Zacks Research (NYSE:SPG)

Simon Property Group, Inc. (NYSE:SPG) – Analysts at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for Simon Property Group in a research report issued on Wednesday, July 31st. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $2.99 per share for the quarter, up from their previous estimate of $2.97. 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 Q3 2025 earnings at $3.09 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $12.18 EPS and FY2026 earnings at $12.83 EPS.

A number of other research firms also recently weighed in on SPG. Evercore ISI upped their target price on Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a report on Tuesday. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Scotiabank upped their target price 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. Finally, Stifel Nicolaus increased their price target on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.50.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $155.53 on Monday. The company has a market cap of $50.69 billion, a PE ratio of 19.81, a P/E/G ratio of 8.78 and a beta of 1.75. The business has a 50 day moving average of $150.32 and a 200 day moving average of $148.13. Simon Property Group has a 52 week low of $102.11 and a 52 week high of $158.50. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. Simon Property Group’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 EPS.

Institutional Trading of Simon Property Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter valued at $2,561,181,000. Vanguard Group Inc. boosted its holdings in shares of Simon Property Group by 1.5% during 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 acquiring an additional 672,941 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after acquiring an additional 667,034 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of Simon Property Group by 160.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock valued at $108,887,000 after purchasing an additional 469,855 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in Simon Property Group by 16,795.2% during the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after purchasing an additional 421,560 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost 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 $8,259,500.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 5.27%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is 101.91%.

About Simon Property Group

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.