Simon Property Group, Inc. (NYSE:SPG) – Jefferies Group raised their Q4 2017 earnings per share (EPS) estimates for Simon Property Group in a research note issued on Wednesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will earn $3.12 per share for the quarter, up from their previous estimate of $3.11. Jefferies Group currently has a “Buy” rating and a $200.00 target price on the stock. Jefferies Group also issued estimates for Simon Property Group’s FY2019 earnings at $12.71 EPS.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $2.63 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: “Q4 2017 EPS Estimates for Simon Property Group, Inc. Boosted by Jefferies Group (SPG)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/26/q4-2017-eps-estimates-for-simon-property-group-inc-boosted-by-jefferies-group-spg.html.

Several other equities analysts also recently commented on SPG. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Argus decreased their target price on Simon Property Group from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays PLC upped their target price on Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. BidaskClub downgraded Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Finally, Stifel Nicolaus assumed coverage on Simon Property Group in a research report on Friday, July 14th. They issued a “hold” rating and a $170.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $195.01.

Shares of Simon Property Group (NYSE:SPG) opened at 159.04 on Friday. Simon Property Group has a one year low of $150.15 and a one year high of $219.41. The company has a market capitalization of $49.44 billion, a P/E ratio of 28.34 and a beta of 0.58. The stock has a 50 day moving average price of $159.66 and a 200-day moving average price of $165.41.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Shell Asset Management Co. boosted its position in shares of Simon Property Group by 6.1% in the first quarter. Shell Asset Management Co. now owns 67,438 shares of the real estate investment trust’s stock worth $11,601,000 after buying an additional 3,866 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in Simon Property Group by 9.8% in the first quarter. Moloney Securities Asset Management LLC now owns 3,632 shares of the real estate investment trust’s stock worth $625,000 after buying an additional 323 shares during the last quarter. BTC Capital Management Inc. increased its stake in Simon Property Group by 13.2% in the first quarter. BTC Capital Management Inc. now owns 32,862 shares of the real estate investment trust’s stock worth $5,651,000 after buying an additional 3,839 shares during the last quarter. Agran Libbie increased its stake in Simon Property Group by 1.0% in the first quarter. Agran Libbie now owns 53,233 shares of the real estate investment trust’s stock worth $9,158,000 after buying an additional 525 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Simon Property Group by 782.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 446,889 shares of the real estate investment trust’s stock worth $76,878,000 after buying an additional 396,250 shares during the last quarter. Institutional investors own 95.77% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.53%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, August 15th. Simon Property Group’s dividend payout ratio is presently 127.89%.

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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

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