Simon Property Group (NYSE:SPG) Releases Quarterly Earnings Results, Beats Expectations By $1.70 EPS

Simon Property Group (NYSE:SPG) posted its earnings results on Tuesday. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70, Zacks reports. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded down $0.11 on Tuesday, reaching $173.30. 1,033,107 shares of the company’s stock were exchanged, compared to its average volume of 1,268,894. The business’s 50-day moving average is $175.95 and its two-hundred day moving average is $169.92. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The firm has a market capitalization of $56.54 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 9.31 and a beta of 1.74.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SPG shares. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $172.10.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.