Simon Property Group (SPG) Expected to Announce Quarterly Earnings on Tuesday

Simon Property Group (NYSE:SPG) is expected to announce its earnings results after the market closes on Tuesday, February 4th. Analysts expect the company to announce earnings of $1.98 per share and revenue of $1,410,606.82 billion for the quarter. Simon Property Group has set its FY24 guidance at $12.80-12.90 EPS and its FY 2024 guidance at 12.800-12.900 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $3.20 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts expect Simon Property Group to post $13 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Simon Property Group Stock Up 1.4 %

Shares of NYSE:SPG opened at $176.67 on Tuesday. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00. The business has a 50 day simple moving average of $176.69 and a two-hundred day simple moving average of $168.92. The firm has a market capitalization of $57.64 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.75%. Simon Property Group’s payout ratio is presently 111.85%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $172.10.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.