$1.38 Billion in Sales Expected for Simon Property Group (SPG) This Quarter

Equities research analysts predict that Simon Property Group (NYSE:SPG) will post $1.38 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Simon Property Group’s earnings, with estimates ranging from $1.36 billion to $1.40 billion. Simon Property Group reported sales of $1.35 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The company is expected to announce its next earnings report before the market opens on Friday, April 27th.

According to Zacks, analysts expect that Simon Property Group will report full year sales of $5.64 billion for the current year, with estimates ranging from $5.48 billion to $5.71 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.86 billion per share, with estimates ranging from $5.58 billion to $5.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Simon Property Group.

Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.12. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a net margin of 35.14% and a return on equity of 44.93%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share.

A number of brokerages have issued reports on SPG. Zacks Investment Research cut shares of Simon Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. ValuEngine cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Boenning Scattergood restated a “buy” rating and set a $240.00 target price on shares of Simon Property Group in a research report on Thursday, February 1st. Barclays cut their target price on shares of Simon Property Group from $190.00 to $188.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Finally, JPMorgan Chase cut shares of Simon Property Group from an “overweight” rating to a “neutral” rating in a research report on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $185.61.

Hedge funds and other institutional investors have recently modified their holdings of the company. APG Asset Management US Inc. grew its holdings in Simon Property Group by 0.3% in the fourth quarter. APG Asset Management US Inc. now owns 7,517,948 shares of the real estate investment trust’s stock valued at $1,291,132,000 after purchasing an additional 24,208 shares during the period. Geode Capital Management LLC grew its holdings in Simon Property Group by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,563,293 shares of the real estate investment trust’s stock valued at $610,753,000 after purchasing an additional 126,941 shares during the period. Brookfield Asset Management Inc. grew its holdings in Simon Property Group by 14.3% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,443,805 shares of the real estate investment trust’s stock valued at $591,439,000 after purchasing an additional 432,000 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Simon Property Group by 5.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,999,392 shares of the real estate investment trust’s stock valued at $515,116,000 after purchasing an additional 161,969 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in Simon Property Group by 5.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,567,168 shares of the real estate investment trust’s stock valued at $440,885,000 after purchasing an additional 134,563 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Shares of SPG opened at $150.16 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 5.87. The stock has a market cap of $47,345.66, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.89 and a beta of 0.57. Simon Property Group has a 12-month low of $145.78 and a 12-month high of $173.02.

Simon Property Group Company Profile

Simon is a global leader 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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