Simon Property (SPG) Advances While Market Declines: Some Information for Investors

Simon Property (SPG) ended the recent trading session at $150.77, demonstrating a +0.94% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.65%. Meanwhile, the Dow experienced a drop of 0.49%, and the technology-dominated Nasdaq saw a decrease of 0.96%.

Prior to today's trading, shares of the shopping mall real estate investment trust had gained 0.92% over the past month. This has lagged the Finance sector's gain of 3.96% and the S&P 500's gain of 3.27% in that time.

Market participants will be closely following the financial results of Simon Property in its upcoming release. The company's earnings per share (EPS) are projected to be $2.80, reflecting a 2.19% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.41 billion, indicating a 4.26% growth compared to the corresponding quarter of the prior year.

SPG's full-year Zacks Consensus Estimates are calling for earnings of $12.11 per share and revenue of $5.79 billion. These results would represent year-over-year changes of -3.2% and +2.36%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for Simon Property. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. Simon Property is currently a Zacks Rank #3 (Hold).

Looking at valuation, Simon Property is presently trading at a Forward P/E ratio of 12.33. Its industry sports an average Forward P/E of 12.93, so one might conclude that Simon Property is trading at a discount comparatively.

Investors should also note that SPG has a PEG ratio of 7.09 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The REIT and Equity Trust - Retail was holding an average PEG ratio of 3.63 at yesterday's closing price.

The REIT and Equity Trust - Retail industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Simon Property Group, Inc. (SPG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.