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

Simon Property Group (NYSE:SPGGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $11.60-$11.75 for the period. The company issued revenue guidance of -.

Shares of NYSE SPG opened at $116.78 on Monday. The firm has a 50 day moving average price of $127.28 and a two-hundred day moving average price of $143.94. The stock has a market cap of $38.37 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.26 and a beta of 1.46. Simon Property Group has a 52-week low of $111.17 and a 52-week high of $171.12. The company has a debt-to-equity ratio of 6.82, a quick ratio of 1.01 and a current ratio of 1.10.

Simon Property Group (NYSE:SPGGet Rating) last issued its quarterly earnings data 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). The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.24 billion. Simon Property Group had a return on equity of 56.67% and a net margin of 43.12%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.48 EPS. Analysts predict that Simon Property Group will post 11.69 earnings per share for the current fiscal year.

The firm 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 dividend on an annualized basis and a dividend yield of 5.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.65. The ex-dividend date is Wednesday, June 8th. Simon Property Group’s dividend payout ratio is presently 97.35%.

A number of research analysts recently issued reports on SPG shares. Mizuho dropped their target price on shares of Simon Property Group from $162.00 to $158.00 and set a neutral rating on the stock in a research report on Tuesday, February 8th. Wells Fargo & Company dropped their price objective on shares of Simon Property Group from $152.00 to $140.00 and set an equal weight rating on the stock in a report on Thursday, April 7th. Stifel Nicolaus reduced their target price on Simon Property Group from $180.00 to $165.00 in a research note on Tuesday, May 10th. StockNews.com started coverage on Simon Property Group in a research report on Thursday, March 31st. They issued a hold rating for the company. Finally, Morgan Stanley cut their price target on Simon Property Group from $180.00 to $160.00 and set an overweight rating on the stock in a report on Monday, March 7th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $164.31.

Several large investors have recently made changes to their positions in SPG. Parkside Financial Bank & Trust raised its position in Simon Property Group by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 638 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 93 shares during the last quarter. Interchange Capital Partners LLC boosted its holdings in Simon Property Group by 5.1% during the 1st quarter. Interchange Capital Partners LLC now owns 3,740 shares of the real estate investment trust’s stock worth $492,000 after acquiring an additional 180 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth $30,000. Covington Capital Management raised its holdings in shares of Simon Property Group by 71.5% in the fourth quarter. Covington Capital Management now owns 763 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 318 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Simon Property Group by 8.6% in the fourth quarter. Glenmede Trust Co. NA now owns 4,534 shares of the real estate investment trust’s stock valued at $723,000 after purchasing an additional 360 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Simon Property Group Company Profile (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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