Q3 2024 EPS Estimates for Simon Property Group, Inc. (NYSE:SPG) Lifted by Analyst

Simon Property Group, Inc. (NYSE:SPG) – Stock analysts at Zacks Research increased their Q3 2024 EPS estimates for Simon Property Group in a note issued to investors on Wednesday, July 31st. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $2.99 for the quarter, up from their previous estimate of $2.97. The consensus estimate for Simon Property Group’s current full-year earnings is $12.84 per share. Zacks Research also issued estimates for Simon Property Group’s Q3 2025 earnings at $3.09 EPS, Q4 2025 earnings at $3.21 EPS, FY2025 earnings at $12.18 EPS and FY2026 earnings at $12.83 EPS.

Several other equities research analysts have also commented on SPG. Evercore ISI boosted their price target on shares of Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a report on Tuesday. Argus boosted their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Scotiabank raised their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Stifel Nicolaus lifted their price objective on Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a report on Tuesday. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

Simon Property Group Trading Up 5.1 %

Shares of SPG stock opened at $155.53 on Monday. Simon Property Group has a 1-year low of $102.11 and a 1-year high of $158.50. The company has a market cap of $50.69 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 8.78 and a beta of 1.75. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a 50 day simple moving average of $150.32 and a 200-day simple moving average of $148.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $2.88 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $2.05 dividend. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.27%. Simon Property Group’s dividend payout ratio is 101.91%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

Institutional investors have recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group in the first quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Simon Property Group in the second quarter worth approximately $25,000. Pathway Financial Advisers LLC acquired a new stake in Simon Property Group during the first quarter worth $29,000. Finally, RFP Financial Group LLC raised its position in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Company Profile

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.