Research Desk Line-up: Hospitality Properties Trust Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Simon Property Group, Inc. (NYSE: SPG), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SPG, following the Company's posting of its financial results on August 01, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Indianapolis-based Company's quarterly diluted funds from operations (FFO) per share grew 7.6% on a year-over-year basis, outperforming market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the REIT - Retail industry. Pro-TD has currently selected Hospitality Properties Trust (NASDAQ: HPT) for due-diligence and potential coverage as the Company announced on August 03, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Hospitality Properties Trust when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SPG; also brushing on HPT. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=SPG

http://protraderdaily.com/optin/?symbol=HPT

Earnings Reviewed

During Q2 FY17, Simon Property's total revenues increased to $1.36 billion from $1.32 billion in Q2 FY16. The Company's total revenues number topped market consensus estimates of $1.33 billion. The Company generated $851.52 million of revenues from minimum rents in Q2 FY17, compared to $822.22 million in the year ago corresponding period. Average rent revenues during Q2 FY17 were $29.76 million versus $31.25 million in the previous year's same quarter. In Q2 FY17, tenant recoveries revenues increased to $380.53 million from $367.06 million in Q2 FY16. Management fees and other revenues were $31.37 million in Q2 FY17 compared to $34.48 million in Q2 FY16. Furthermore, other income during the reported quarter was $68.34 million versus $60.37 million in the prior year's comparable quarter.

The shopping mall REIT reported net income attributable to common stockholders of $381.99 million, or $1.23 per diluted share, in Q2 FY17 compared to $455.40 million, or $1.45 per diluted share, in Q2 FY16. Excluding debt extinguishment and other charges, the Company's FFO of the Operating Partnership stood at $884.74 million, or $2.47 per diluted share, during Q2 FY17 compared to $952.87 million, or $2.63 per diluted share, in Q2 FY16. Wall Street had expected the Company to report FFO of $2.45 per diluted share

Earnings Metrics

Simon Property's total expense increased to $445.88 million in Q2 FY17 from $426.33 million in Q2 FY16. For Q2 FY17, the Company's total net operating income (NOI) was $1.59 billion, compared to $1.52 billion in Q2 FY16. The Company's portfolio (NOI) grew 5% during Q2 FY17 to $1.55 billion from $1.47 billion in the previous year's same quarter. Furthermore, comparable Property NOI increased 4.4% to $1.35 billion in the reported quarter from $1.30 billion in Q2 FY16.

As on June 30, 2017, base minimum rent per square foot was $52.10 rising 3.3% on a year-over-year basis. The leasing spread per square foot for the trailing 12-months ended June 30, 2017, increased 12.9% to $8.13. Furthermore, occupancy as on June 30, 2017, was 95.2% compared to 95.9% as on June 30, 2016.

Cash Flow & Balance Sheet

During the six months of FY17, cash provided by operating activities was $1.81 billion, up from $1.69 billion in the prior year's same period. At the close of books on June 30, 2017, Simon Property had $488.61 million in cash and cash equivalents compared to $560.06 million at the close of books on December 31, 2016.

Dividend and Share Repurchase

In the earrings press release, Simon Property's Board of Directors hiked quarterly dividend by 9.1% to $1.80 per share. The dividend is payable on August 31, 2017, to stockholders of record on August 17, 2017.

In the quarter ended June 30, 2017, Simon Property repurchased 1,528,359 shares of its common stock at an average price of $160.08 per share.

Outlook

In its guidance for full-year FY17, Simon Property's management expected diluted EPS in the range of $6.20 to $6.28. Moreover, FY17's diluted FFO per share is forecasted to be between $11.14 and $11.22.

Stock Performance

Simon Property's share price finished yesterday's trading session at $160.34, advancing 1.55%. A total volume of 1.60 million shares have exchanged hands. The Company's stock price advanced 2.68% in the last three months. Shares of the Company have a PE ratio of 28.55 and have a dividend yield of 4.49%. The stock currently has a market cap of $50.87 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily