Simon Property Group (SPG) Projected to Post Earnings on Tuesday

Simon Property Group (NYSE:SPG) will likely be posting its quarterly earnings results after the market closes on Tuesday, February 4th. Analysts expect Simon Property Group to post earnings of $1.98 per share and revenue of $1.41 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.20 EPS. 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 Price Performance

Shares of SPG opened at $173.75 on Friday. The stock’s fifty day moving average is $176.08 and its 200-day moving average is $169.54. The firm has a market capitalization of $56.69 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 9.30 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group has a one year low of $135.15 and a one year high of $186.00.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $172.10.

About Simon Property Group

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.