Simon Property Group, Inc. (NYSE:SPG) announced a quarterly dividend on Tuesday, March 30th, RTT News reports. Stockholders of record on Friday, April 9th will be given a dividend of 1.30 per share by the real estate investment trust on Friday, April 23rd. This represents a $5.20 annualized dividend and a dividend yield of 4.57%.
Simon Property Group has decreased its dividend by 16.1% over the last three years and has raised its dividend annually for the last 1 consecutive years.
NYSE SPG opened at $113.81 on Tuesday. The company has a fifty day simple moving average of $112.20 and a 200 day simple moving average of $87.04. Simon Property Group has a 12-month low of $42.25 and a 12-month high of $121.92. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 12.74. The company has a market cap of $37.39 billion, a P/E ratio of 25.87, a PEG ratio of 1.87 and a beta of 1.51.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Sunday, February 7th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($1.33). Simon Property Group had a net margin of 27.22% and a return on equity of 56.28%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $1.66 EPS. The business’s revenue for the quarter was down 24.0% compared to the same quarter last year. Sell-side analysts predict that Simon Property Group will post 9.18 EPS for the current year.
Several research firms recently issued reports on SPG. BTIG Research lifted their price target on shares of Simon Property Group from $99.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 9th. Citigroup started coverage on shares of Simon Property Group in a research report on Tuesday, February 23rd. They issued a “neutral” rating for the company. Edward Jones downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 15th. Morgan Stanley raised shares of Simon Property Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $88.00 to $125.00 in a report on Thursday, February 11th. Finally, Evercore ISI started coverage on shares of Simon Property Group in a report on Wednesday, January 6th. They set an “inline” rating and a $89.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. Simon Property Group currently has an average rating of “Hold” and an average target price of $91.50.
Simon Property Group Company Profile
Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.
Further Reading: Neutral Rating
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