Simon Property Group, Inc. Expected to Post FY2024 Earnings of $12.76 Per Share (NYSE:SPG)

Simon Property Group, Inc. (NYSE:SPGFree Report) – Zacks Research issued their FY2024 earnings per share estimates for Simon Property Group in a research note issued on Monday, May 27th. Zacks Research analyst R. Department expects that the real estate investment trust will earn $12.76 per share for the year. The consensus estimate for Simon Property Group’s current full-year earnings is $12.87 per share. Zacks Research also issued estimates for Simon Property Group’s Q1 2026 earnings at $3.05 EPS.

Several other analysts also recently weighed in on SPG. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Morgan Stanley boosted their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Scotiabank increased their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Evercore ISI lifted their target price on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Finally, Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.33.

Check Out Our Latest Report on SPG

Simon Property Group Price Performance

Shares of SPG opened at $148.46 on Thursday. The firm has a 50-day simple moving average of $146.87 and a two-hundred day simple moving average of $142.93. The stock has a market cap of $48.39 billion, a PE ratio of 18.91, a P/E/G ratio of 8.73 and a beta of 1.68. Simon Property Group has a 1-year low of $102.11 and a 1-year high of $157.82. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19.

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

Institutional Investors Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lincoln National Corp increased its holdings in shares of Simon Property Group by 7.3% in the 3rd quarter. Lincoln National Corp now owns 2,499 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 170 shares during the period. Victory Capital Management Inc. grew its stake in shares of Simon Property Group by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 255,039 shares of the real estate investment trust’s stock valued at $27,552,000 after purchasing an additional 9,950 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Simon Property Group by 9.4% in the third quarter. Sigma Planning Corp now owns 4,855 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 416 shares during the period. Atria Investments Inc raised its stake in shares of Simon Property Group by 136.7% during the third quarter. Atria Investments Inc now owns 24,306 shares of the real estate investment trust’s stock worth $2,626,000 after purchasing an additional 14,039 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $467,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $2.00 dividend. The ex-dividend date is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a yield of 5.39%. Simon Property Group’s dividend payout ratio (DPR) is currently 99.36%.

Simon Property Group declared that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Simon Property Group Company Profile

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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.

See Also

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

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