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Simon Property (SPG) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Simon Property (SPG) closed at $103.45, marking a +1.15% move from the previous day. This move outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.07%.

Heading into today, shares of the shopping mall real estate investment trust had gained 5.88% over the past month, outpacing the Finance sector's gain of 4.65% and lagging the S&P 500's gain of 7.25% in that time.

Simon Property will be looking to display strength as it nears 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.

SPG's full-year Zacks Consensus Estimates are calling for earnings of $11.72 per share and revenue of $5.26 billion. These results would represent year-over-year changes of -1.84% and +2.83%, respectively.

It is also important to note the recent changes to analyst estimates for Simon Property. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Simon Property currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Simon Property has a Forward P/E ratio of 8.73 right now. Its industry sports an average Forward P/E of 13.45, so we one might conclude that Simon Property is trading at a discount comparatively.

Also, we should mention that SPG has a PEG ratio of 2.4. 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. SPG's industry had an average PEG ratio of 2.01 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 64, which puts it in the top 26% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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