Simon Property Group, Inc. (NYSE:SPG) Announces Dividend Increase - $2.15 Per Share

Key Points

• Simon Property Group, Inc. announced a quarterly dividend increase to $2.15 per share, representing a 2.4% increase from the previous dividend of $2.10.
• The company's current dividend payout ratio is 122.6%, indicating reliance on its balance sheet to cover dividends, but future earnings are expected to improve, allowing a potential adjustment to a safer payout ratio of 65.2%.
• Shares of Simon Property Group traded up to $163.72, with a market capitalization of $53.44 billion and a P/E ratio of 26.07.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) announced a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Tuesday, September 9th will be paid a dividend of 2.15 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a 2.4% increase from Simon Property Group's previous quarterly dividend of $2.10.

Simon Property Group has a dividend payout ratio of 122.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Simon Property Group to earn $12.88 per share next year, which means the company should continue to be able to cover its $8.40 annual dividend with an expected future payout ratio of 65.2%.

Simon Property Group Stock Down 0.7%

Shares of SPG traded down $1.20 during trading hours on Wednesday, hitting $168.11. The company had a trading volume of 926,756 shares, compared to its average volume of 1,635,362. The firm has a fifty day moving average price of $162.21 and a 200-day moving average price of $165.03. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $54.87 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 11.07 and a beta of 1.48. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 70.40%. Simon Property Group's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $2.90 EPS. On average, equities research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

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.