We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Simon Property (SPG) Advances But Underperforms Market: Key Facts
Read MoreHide Full Article
In the latest trading session, Simon Property (SPG - Free Report) closed at $105.97, marking a +0.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Heading into today, shares of the shopping mall real estate investment trust had lost 6.17% over the past month, lagging the Finance sector's loss of 5.07% and the S&P 500's loss of 2.29% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. On that day, Simon Property is projected to report earnings of $2.98 per share, which would represent year-over-year growth of 0.34%. At the same time, our most recent consensus estimate is projecting a revenue of $1.37 billion, reflecting a 3.95% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.91 per share and a revenue of $5.52 billion, representing changes of +0.34% and +4.33%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Simon Property. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Simon Property is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Simon Property is currently being traded at a Forward P/E ratio of 8.84. This valuation marks a discount compared to its industry's average Forward P/E of 10.98.
We can additionally observe that SPG currently boasts a PEG ratio of 5.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the REIT and Equity Trust - Retail industry held an average PEG ratio of 2.41.
The REIT and Equity Trust - Retail industry is part of the Finance sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Simon Property (SPG) Advances But Underperforms Market: Key Facts
In the latest trading session, Simon Property (SPG - Free Report) closed at $105.97, marking a +0.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Heading into today, shares of the shopping mall real estate investment trust had lost 6.17% over the past month, lagging the Finance sector's loss of 5.07% and the S&P 500's loss of 2.29% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. On that day, Simon Property is projected to report earnings of $2.98 per share, which would represent year-over-year growth of 0.34%. At the same time, our most recent consensus estimate is projecting a revenue of $1.37 billion, reflecting a 3.95% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.91 per share and a revenue of $5.52 billion, representing changes of +0.34% and +4.33%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Simon Property. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Simon Property is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Simon Property is currently being traded at a Forward P/E ratio of 8.84. This valuation marks a discount compared to its industry's average Forward P/E of 10.98.
We can additionally observe that SPG currently boasts a PEG ratio of 5.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the REIT and Equity Trust - Retail industry held an average PEG ratio of 2.41.
The REIT and Equity Trust - Retail industry is part of the Finance sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.