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 Stock Performance
Shares of SPG Stock opened at $114.07 on Friday. Simon Property Group has a one year low of $93.06 and a one year high of $171.12. The company's 50-day moving average is $101.54 and its 200 day moving average is $120.14. The company has a market capitalization of $37.48 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.54 and a beta of 1.49. 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 (NYSE:SPG - Get Rating) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $2.92 EPS. Simon Property Group's revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts expect that Simon Property Group will post 11.7 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The company 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 annualized dividend and a yield of 6.14%. This is an increase 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 106.08%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on SPG shares. Jefferies Financial Group lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $160.00 to $100.00 in a research report on Thursday, June 30th. Stifel Nicolaus dropped their target price on shares of Simon Property Group from $180.00 to $165.00 in a research report on Tuesday, May 10th. UBS Group boosted their price objective on shares of Simon Property Group from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, August 2nd. Mizuho lowered their price objective on shares of Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, August 3rd. Finally, Piper Sandler lowered their price objective on shares of Simon Property Group to $130.00 in a report on Monday, July 4th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $145.07.