Simon Property Group Inc Announces Quarterly Dividend of $1.30 (SPG)

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Simon Property Group (NYSE:SPG) announced a quarterly dividend on Wednesday, July 23rd, Analyst RN reports. Investors of record on Friday, August 15th will be paid a dividend of 1.30 per share on Friday, August 29th. This represents a $5.20 annualized dividend and a dividend yield of 3.04%.

Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Simon Property Group from $190.00 to $193.00 in a research note on Tuesday. On the ratings front, analysts at Barclays raised their price target on shares of Simon Property Group from $185.00 to $199.00 in a research note on Monday. They now have an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $186.43.

Shares of Simon Property Group (NYSE:SPG) opened at 171.33 on Wednesday. Simon Property Group has a 52-week low of $134.026 and a 52-week high of $172.01. The stock has a 50-day moving average of $167. and a 200-day moving average of $157.6. The company has a market cap of $53.225 billion and a price-to-earnings ratio of 38.48.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Simon Property Group will post $9.14 EPS for the current fiscal year.

Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).

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