On Thursday, Shares of Simon Property Group (NYSE: SPG) declined -2.29% to $174.03. The stock grabbed the investor’s attention and traded 2,047,148 shares as compared to its average daily volume of 1.33M shares. The stock’s institutional ownership stands at 98.60%.
Simon Property Group Inc. (SPG) stated it had funds from operations of $1.150B, or $3.23 per share, in the period. The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $3.24 per share. Funds from operations are a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $712.80M, or $2.30 per share.
The shopping mall real estate investment trust posted revenue of $1.460B in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.50B.
For the year, the company stated funds from operations of $4.320B, or $12.13 per share. Revenue was stated as $5.660B. It anticipates full-year funds from operations in the range of $12.30 to $12.40 per share.
SPG has a market value of $53.55B while its EPS was booked as $7.87 in the last 12 months. The stock has 307.68M shares outstanding. In the profitability analysis, the company has gross profit margin of 82.20% while net profit margin was 43.10%. Beta value of the company was 0.54; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.00.