Simon Property Group Inc (SPG) Plans $2.00 Quarterly Dividend

Simon Property Group Inc (NYSE:SPG) declared a quarterly dividend on Thursday, October 25th, RTT News reports. Investors of record on Friday, November 16th will be given a dividend of 2.00 per share by the real estate investment trust on Friday, November 30th. This represents a $8.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Thursday, November 15th.

Simon Property Group has increased its dividend payment by an average of 11.6% per year over the last three years and has raised its dividend every year for the last 8 years. Simon Property Group has a dividend payout ratio of 66.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Simon Property Group to earn $12.54 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 63.8%.

NYSE SPG opened at $188.69 on Friday. The stock has a market capitalization of $59.99 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 2.55 and a beta of 0.40. Simon Property Group has a twelve month low of $145.78 and a twelve month high of $189.16. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 6.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. As a group, equities research analysts expect that Simon Property Group will post 12.13 EPS for the current year.

A number of research firms recently weighed in on SPG. Citigroup upped their price target on Simon Property Group from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Bank of America upped their price target on Simon Property Group from $193.00 to $203.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Raymond James upped their price target on Simon Property Group from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, October 29th. Royal Bank of Canada upped their price target on Simon Property Group to $183.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 21st. Finally, Zacks Investment Research cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Simon Property Group presently has a consensus rating of “Buy” and a consensus target price of $195.42.

In other Simon Property Group news, insider John Rulli sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $186.52, for a total transaction of $1,119,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.64% of the stock is owned by corporate insiders.

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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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Dividend History for Simon Property Group (NYSE:SPG)

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