Stock Update (NYSE:SPG): Simon Property Group Sells $1.35 Billion Of Senior Notes

[PR Newswire] – INDIANAPOLIS, Jan. 8, 2016 /PRNewswire/ — Simon, a leading global retail real estate company, announced today that its majority-owned operating partnership subsidiary, Simon Property Group, L.P. (the … Read more on this. Simon Property Group Inc. (SPG) , currently valued at $57.58B, opened this morning at $191.75. During the trading session, SPG traded between $185.60 to $192.85 with a trailing 52-week range being $170.99 to $208.14. Priced at 19.18x this year’s forecasted earnings, SPG shares are relatively inexpensive compared to the industry’s 23.59x forward p/e ratio. The company pays shareholders $6.40 per share annually in dividends, yielding 3.29%. According to a consensus of 20 analysts, the earnings estimate of $2.55 per share would be $0.08 better than the year-ago quarter and a $0.16 sequential decrease. The full-year EPS estimate is $9.99, which would be a $1.09 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.38 Billion. If realized, that would be a 6.15% increase over the year-ago quarter. In terms of ratings, Canaccord Genuity Initiated SPG at Buy (Jul 22, 2015). Previously, MLV & Co Initiated SPG at to Hold. The average price target for SPG shares by the analysts covering it is $225.21, which is 17.45% above where the stock opened. See more in (NYSE:SPG) Similar Articles: Stock Update: Sysco Corporation (NYSE:SYY) – Sysco Announces $2 Billion Senior Notes Offering and Accelerated Share Repurchase Program Stock Update: Simon Property Group Inc (NYSE:SPG) – Simon Property Group Sells $1.1 Billion Of Senior Notes Stock Update: American International Group Inc (NYSE:AIG) – AIG Announces Closing of $2.5 Billion Senior Notes Offering and Satisfaction of Maximum Cash Tender Offer Financing Condition