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Simon Property (SPG) Gains As Market Dips: What You Should Know
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Simon Property (SPG - Free Report) closed at $118.21 in the latest trading session, marking a +1% move from the prior day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 9.78%.
Heading into today, shares of the shopping mall real estate investment trust had gained 7.21% over the past month, outpacing the Finance sector's gain of 6.56% and the S&P 500's gain of 4.16% in that time.
Wall Street will be looking for positivity from Simon Property as it approaches its next earnings report date. In that report, analysts expect Simon Property to post earnings of $2.91 per share. This would mark a year-over-year decline of 1.69%. Meanwhile, our latest consensus estimate is calling for revenue of $1.33 billion, up 3.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.92 per share and revenue of $5.43 billion, which would represent changes of +0.42% and +2.58%, respectively, from the prior year.
Any recent changes to analyst estimates for Simon Property should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Simon Property is currently a Zacks Rank #3 (Hold).
Investors should also note Simon Property's current valuation metrics, including its Forward P/E ratio of 9.82. This represents a discount compared to its industry's average Forward P/E of 12.78.
Also, we should mention that SPG has a PEG ratio of 2.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 2.85 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.
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Simon Property (SPG) Gains As Market Dips: What You Should Know
Simon Property (SPG - Free Report) closed at $118.21 in the latest trading session, marking a +1% move from the prior day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 9.78%.
Heading into today, shares of the shopping mall real estate investment trust had gained 7.21% over the past month, outpacing the Finance sector's gain of 6.56% and the S&P 500's gain of 4.16% in that time.
Wall Street will be looking for positivity from Simon Property as it approaches its next earnings report date. In that report, analysts expect Simon Property to post earnings of $2.91 per share. This would mark a year-over-year decline of 1.69%. Meanwhile, our latest consensus estimate is calling for revenue of $1.33 billion, up 3.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.92 per share and revenue of $5.43 billion, which would represent changes of +0.42% and +2.58%, respectively, from the prior year.
Any recent changes to analyst estimates for Simon Property should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Simon Property is currently a Zacks Rank #3 (Hold).
Investors should also note Simon Property's current valuation metrics, including its Forward P/E ratio of 9.82. This represents a discount compared to its industry's average Forward P/E of 12.78.
Also, we should mention that SPG has a PEG ratio of 2.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 2.85 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.