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Simon Property (SPG) Outpaces Stock Market Gains: What You Should Know
Simon Property (SPG - Free Report) closed at $109.12 in the latest trading session, marking a +1.87% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.3%. At the same time, the Dow added 0.98%, and the tech-heavy Nasdaq gained 7.48%.
Heading into today, shares of the shopping mall real estate investment trust had lost 13.38% over the past month, lagging the Finance sector's loss of 10.17% and the S&P 500's loss of 2.95% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release. On that day, Simon Property is projected to report earnings of $2.81 per share, which would represent year-over-year growth of 1.08%. Meanwhile, our latest consensus estimate is calling for revenue of $1.33 billion, up 2.65% from the prior-year quarter.
SPG's full-year Zacks Consensus Estimates are calling for earnings of $12.05 per share and revenue of $5.48 billion. These results would represent year-over-year changes of +1.52% and +3.55%, respectively.
Investors might also notice recent changes to analyst estimates for Simon Property. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.93% higher. Simon Property currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Simon Property currently has a Forward P/E ratio of 8.89. This represents a discount compared to its industry's average Forward P/E of 11.73.
We can also see that SPG currently has a PEG ratio of 2.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. SPG's industry had an average PEG ratio of 2.46 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.