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 Price Performance
NYSE:SPG traded down $2.32 on Friday, reaching $111.01. 1,447,726 shares of the stock traded hands, compared to its average volume of 2,112,999. Simon Property Group has a 12 month low of $93.06 and a 12 month high of $171.12. The company has a market cap of $38.07 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.13 and a beta of 1.49. The firm's fifty day simple moving average is $102.10 and its 200 day simple moving average is $118.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 7.13.
Simon Property Group (NYSE:SPG - Get Rating) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The company's revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.92 earnings per share. As a group, research analysts predict that Simon Property Group will post 11.69 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The firm 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 an increase from Simon Property Group's previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date is Thursday, September 8th. Simon Property Group's payout ratio is presently 106.08%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. UBS Group increased their target price on Simon Property Group from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 2nd. Morgan Stanley lowered their price target on shares of Simon Property Group from $145.00 to $133.00 and set an "overweight" rating for the company in a research report on Friday, July 15th. Compass Point cut their price objective on shares of Simon Property Group from $200.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, June 22nd. Finally, Stifel Nicolaus decreased their target price on shares of Simon Property Group from $180.00 to $165.00 in a research report on Tuesday, May 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.73.