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In the latest trading session, Simon Property (SPG) closed at $102.58, marking a -1.39% move from the previous day. This move lagged the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Heading into today, shares of the shopping mall real estate investment trust had gained 3.91% over the past month, outpacing the Finance sector's gain of 1.2% and the S&P 500's gain of 1.44% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be August 1, 2022. On that day, Simon Property is projected to report earnings of $2.91 per share, which would represent a year-over-year decline of 0.34%. Our most recent consensus estimate is calling for quarterly revenue of $1.3 billion, up 3.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.72 per share and revenue of $5.26 billion, which would represent changes of -1.84% and +2.83%, respectively, from the prior year.
Any recent changes to analyst estimates for Simon Property should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.13% lower. Simon Property is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Simon Property has a Forward P/E ratio of 8.88 right now. For comparison, its industry has an average Forward P/E of 13.45, which means Simon Property is trading at a discount to the group.
We can also see that SPG currently has a PEG ratio of 2.44. 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 was holding an average PEG ratio of 2.06 at yesterday's closing price.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% of all 250+ industries.
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.
To follow SPG in the coming trading sessions, be sure to utilize Zacks.com.
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Simon Property Group, Inc. (SPG) : Free Stock Analysis Report
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