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
Shares of NYSE:SPG opened at $113.33 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 7.13. The stock has a market capitalization of $38.86 billion, a PE ratio of 17.68, a PEG ratio of 2.15 and a beta of 1.49. The firm has a 50 day moving average of $102.10 and a 200-day moving average of $118.81. Simon Property Group has a 12 month low of $93.06 and a 12 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 for the quarter, topping the consensus estimate of $1.43 by $0.08. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the prior year, the company earned $2.92 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Simon Property Group will post 11.72 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 6.18%. This is a boost from Simon Property Group's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Thursday, September 8th. Simon Property Group's dividend payout ratio is currently 106.08%.
Wall Street Analysts Forecast Growth
SPG has been the subject of several research reports. Mizuho cut their price target on Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, August 3rd. Jefferies Financial Group downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $160.00 to $100.00 in a report on Thursday, June 30th. Compass Point lowered their price target on shares of Simon Property Group from $200.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, June 22nd. Truist Financial reduced their price objective on Simon Property Group from $130.00 to $125.00 and set a "hold" rating for the company in a report on Monday. Finally, Morgan Stanley decreased their target price on Simon Property Group from $145.00 to $133.00 and set an "overweight" rating on the stock in a research report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has an average rating of "Moderate Buy" and a consensus target price of $144.73.