Simon Property Group (NYSE:SPG) Releases FY22 Earnings Guidance

Simon Property Group (NYSE:SPGGet Rating) issued an update on its FY22 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $11.60-11.75 for the period, compared to the consensus estimate of $11.72. Simon Property Group also updated its FY 2022 guidance to $11.60-$11.75 EPS.

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Simon Property Group from $180.00 to $160.00 and set an overweight rating for the company in a report on Monday, March 7th. StockNews.com initiated coverage on Simon Property Group in a research report on Thursday, March 31st. They set a hold rating for the company. Stifel Nicolaus lowered their price target on Simon Property Group from $180.00 to $165.00 in a report on Tuesday. Mizuho lowered their price target on Simon Property Group from $162.00 to $158.00 and set a neutral rating for the company in a report on Tuesday, February 8th. Finally, Wells Fargo & Company reduced their price objective on Simon Property Group from $152.00 to $140.00 and set an equal weight rating on the stock in a research note on Thursday, April 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $164.31.

Shares of SPG traded up $0.22 during trading hours on Tuesday, hitting $118.41. 58,699 shares of the company were exchanged, compared to its average volume of 2,144,231. The company has a market cap of $38.91 billion, a PE ratio of 17.28, a PEG ratio of 2.34 and a beta of 1.46. The firm’s 50 day moving average is $128.86 and its 200-day moving average is $144.76. Simon Property Group has a 52 week low of $113.41 and a 52 week high of $171.12. The company has a debt-to-equity ratio of 6.64, a quick ratio of 1.01 and a current ratio of 1.01.

Simon Property Group (NYSE:SPGGet Rating) last announced its earnings results on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.74 by ($1.44). Simon Property Group had a net margin of 43.97% and a return on equity of 58.02%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company earned $2.48 EPS. Simon Property Group’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts forecast that Simon Property Group will post 11.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be paid a dividend of $1.70 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a yield of 5.74%. Simon Property Group’s dividend payout ratio is presently 96.49%.

Several hedge funds have recently made changes to their positions in SPG. Morgan Stanley increased its holdings in Simon Property Group by 56.6% during 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 boosted its position in shares of Simon Property Group by 1.0% in 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 purchasing an additional 13,905 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Simon Property Group by 679.4% during the fourth quarter. NewEdge Advisors LLC now owns 14,972 shares of the real estate investment trust’s stock worth $2,393,000 after acquiring an additional 13,051 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Simon Property Group by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 583,089 shares of the real estate investment trust’s stock worth $93,160,000 after acquiring an additional 7,112 shares in the last quarter. Finally, Toroso Investments LLC lifted its holdings in Simon Property Group by 141.2% during the fourth quarter. Toroso Investments LLC now owns 9,850 shares of the real estate investment trust’s stock worth $1,574,000 after acquiring an additional 5,767 shares in the last quarter. Institutional investors 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.

Further Reading

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.