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.
Simon Property Group Trading Up 1.6 %
Shares of NYSE:SPG traded up $1.78 during mid-day trading on Friday, reaching $115.85. 1,491,121 shares of the company's stock were exchanged, compared to its average volume of 1,742,227. The firm has a market capitalization of $39.73 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.68 and a beta of 1.49. The business's fifty day moving average price is $101.69 and its 200-day moving average price is $119.71. The company has a debt-to-equity ratio of 7.13, a quick ratio of 1.02 and a current ratio of 1.02. Simon Property Group has a twelve month low of $93.06 and a twelve month high of $171.12.
Simon Property Group (NYSE:SPG - Get Rating) last released its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. Simon Property Group's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.92 earnings per share. On average, research analysts predict that Simon Property Group will post 11.7 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $1.75 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $1.70. The ex-dividend date is Thursday, September 8th. This represents a $7.00 annualized dividend and a yield of 6.04%. Simon Property Group's payout ratio is presently 106.08%.
Analysts Set New Price Targets
SPG has been the topic of a number of recent analyst reports. Mizuho decreased their price objective on shares of Simon Property Group from $158.00 to $115.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 3rd. Piper Sandler decreased their target price on shares of Simon Property Group to $130.00 in a research note on Monday, July 4th. Morgan Stanley decreased their target price on shares of Simon Property Group from $145.00 to $133.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. Finally, Truist Financial decreased their target price on shares of Simon Property Group from $155.00 to $130.00 in a research note on Friday, June 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.07.