Simon Property Group (NYSE:SPG) Issues FY 2022 Earnings Guidance

Simon Property Group (NYSE:SPGGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $11.60-$11.75 for the period. The company issued revenue guidance of -.Simon Property Group also updated its FY22 guidance to $11.60-11.75 EPS.

SPG stock traded up $0.88 during trading on Tuesday, reaching $119.07. 47,861 shares of the stock were exchanged, compared to its average volume of 2,144,231. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.64. The business has a 50 day moving average price of $128.86 and a 200-day moving average price of $144.76. Simon Property Group has a 1 year low of $113.41 and a 1 year high of $171.12. The firm has a market capitalization of $39.13 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 2.34 and a beta of 1.46.

Simon Property Group (NYSE:SPGGet Rating) last posted its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.74 by ($1.44). Simon Property Group had a return on equity of 58.02% and a net margin of 43.97%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm earned $2.48 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Simon Property Group will post 11.73 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 9th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 5.71%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.65. Simon Property Group’s payout ratio is 96.49%.

A number of research firms recently commented on SPG. Stifel Nicolaus dropped their target price on shares of Simon Property Group from $180.00 to $165.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Simon Property Group from $190.00 to $173.00 and set a buy rating for the company in a research note on Thursday, March 31st. Morgan Stanley lowered their target price on shares of Simon Property Group from $180.00 to $160.00 and set an overweight rating on the stock in a research report on Monday, March 7th. Mizuho reduced their price target on shares of Simon Property Group from $162.00 to $158.00 and set a neutral rating for the company in a research report on Tuesday, February 8th. Finally, StockNews.com initiated coverage on shares of Simon Property Group in a research note on Thursday, March 31st. They set a hold rating for the company. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of Buy and an average target price of $164.31.

Several institutional investors have recently modified their holdings of SPG. Morgan Stanley increased its stake in Simon Property Group by 56.6% in the 2nd quarter. Morgan Stanley now owns 4,402,869 shares of the real estate investment trust’s stock valued at $574,486,000 after purchasing an additional 1,590,556 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Simon Property Group by 1.0% during the 4th quarter. Parametric Portfolio Associates LLC now owns 1,444,886 shares of the real estate investment trust’s stock worth $230,849,000 after buying an additional 13,905 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Simon Property Group by 679.4% in the fourth quarter. NewEdge Advisors LLC now owns 14,972 shares of the real estate investment trust’s stock valued at $2,393,000 after purchasing an additional 13,051 shares in the last quarter. California State Teachers Retirement System grew its holdings in Simon Property Group by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 583,089 shares of the real estate investment trust’s stock valued at $93,160,000 after buying an additional 7,112 shares during the last quarter. Finally, Toroso Investments LLC raised its holdings in Simon Property Group by 141.2% in the 4th quarter. Toroso Investments LLC now owns 9,850 shares of the real estate investment trust’s stock valued at $1,574,000 after acquiring an additional 5,767 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

About Simon Property Group (Get Rating)

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.

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Earnings History and Estimates for Simon Property Group (NYSE:SPG)

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