Simon Property Group (NYSE:SPG) Releases Earnings Results, Beats Estimates By $1.70 EPS

Simon Property Group (NYSE:SPG) released its quarterly earnings data on Tuesday. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70, Zacks reports. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%.

Simon Property Group Stock Down 0.1 %

Shares of SPG stock traded down $0.11 during trading hours on Tuesday, hitting $173.30. 1,039,511 shares of the company were exchanged, compared to its average volume of 1,269,640. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $56.54 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 9.31 and a beta of 1.74. Simon Property Group has a one year low of $135.15 and a one year high of $186.00. The business’s 50-day simple moving average is $175.95 and its two-hundred day simple moving average is $169.92.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently 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.