SPG - Simon Property Group, Inc.

NYSE - NYSE Delayed Price. Currency in USD
156.44
-2.95 (-1.85%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous Close159.39
Open159.47
Bid155.55 x 800
Ask156.93 x 800
Day's Range156.24 - 160.22
52 Week Range156.24 - 191.49
Volume1,711,917
Avg. Volume1,444,179
Market Cap48.339B
Beta (3Y Monthly)0.54
PE Ratio (TTM)20.46
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield8.20 (5.14%)
Ex-Dividend Date2019-05-16
1y Target EstN/A
Trade prices are not sourced from all markets
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  • 4 Retail Stocks to Buy in Time for the Back-to-School Rush
    InvestorPlace5 days ago

    4 Retail Stocks to Buy in Time for the Back-to-School Rush

    Over the next month or so, school starts up again across the United States. And for parents, that means a frenzied rush of back-to-school shopping.As investors, how can we cash in on the excitement?Obviously, Amazon (NASDAQ:AMZN) has done a number on many brick-and-mortar retailers. But others are figuring out ways to prosper despite the rapidly changing retail landscape.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Here are four retail stocks to buy as summer vacations wind down. Retail Stocks to Buy: Ross Stores (ROST)An overarching theme in the so-called retail apocalypse has been the collapse of department stores such as Sears and Bon-Ton. It has certainly been the end of an era for the traditional department-store led regional mall.But Amazon hasn't ended clothes shopping at brick-and-mortar locations; much of the traffic has moved to non-mall retailers.And no group of these has done better than the off-department store clothing chains. Ross Stores (NASDAQ:ROST) is a perfect example of this category. Ross is set up in (generally) cheaper shopping center locations offering great branded products in no-frill stores at rock-bottom prices.Though Ross is a well-oiled supply chain and laser-focused on keeping overhead down, it can thrive in the new retail landscape. Its prices are competitive - if not better - than what you find online. Ross may not have the best consumer experience, but for people hunting for a bargain, it's the place to be.At 21.5x earnings, ROST stock isn't cheap, but it's not too expensive for a firm that is still growing rapidly. Additionally, ROST stock is just now approaching its high from last fall. Once it tops that, shares should break out technically to new highs. Macerich (MAC)If you like shopping at the mall, it's worth considering buying a mall REIT operator. Be careful in what you buy, however. Lower-end mall stocks have gotten pummeled as e-commerce has crushed many malls' fortunes.Analysts see the field dividing, however, with the strong malls getting stronger while weak malls fade and ultimately close or get redeveloped.Enter Macerich (NYSE:MAC). It is one of the strongest mall operators in the U.S. Its malls generate more than $700 per square foot of retail sales - that's 40% above the national average. If you live in a large metro area, there's a great chance that either Macerich or Simon Property (NYSE:SPG) owns the most luxurious mall or two near you.Why buy Macerich over the larger Simon? For one thing, Macerich's malls average even more sales per square foot than Simon. And like its sales, its dividend yield is bigger too - MAC stock pays a juicy 8.9% dividend now, compared to a more modest 5% from Simon.MAC stock has gotten cheap because it is relatively highly-levered. Investors fretted about whether it could maintain its dividend if a recession hit. But with the economy picking up and the Fed set to cut rates, Macerich should be fine on that front. * 7 Dependable Dividend Stocks to Buy Meanwhile, they've got several development projects in the works which should boost their cash flow - and ensure the dividend's safety - going forward. When you go to the mall, if you own MAC stock, you are, in a small way, helping pay yourself a dividend as you shop. Bloomin' Brands (BLMN)While you're out doing your back-to-school shopping, you may work up an appetite. That will lead you to my favorite sub-sector within retail: the restaurants. And thankfully, there's a tasty bargain on offer in this sector right now. That would be Bloomin' Brands (NASDAQ:BLMN). Bloomin' owns Outback Steakhouse, Carrabba's, and Bonefish Grill among its trademarks.BLMN stock fell from $22 earlier this year to just $17 now in large part due to analyst downgrades. These downgrades were based on fears about the impact of African Swine Fever. This disease has stricken tens of millions of pigs in China and other neighboring countries, causing the price of pork to spike. In theory, Bloomin' will have to pay more for meat, and thus its profits will drop - or so say the analysts.In practice, however, beef - not pork - is the main product Bloomin' sells, aside from its chain focused on fish. Sure, rising pork prices will be a minor negative, but there's no reason for BLMN stock to be down 25% when pork likely makes up just a couple percent (if that) of Bloomin's costs.One of the analysts that downgraded Bloomin' also cut their rating on Chipotle (NYSE:CMG) due to swine flu fears. Chipotle responded by saying that although it indeed sells a large amount of carnitas pork, the swine fever would have an inconsequential impact on its results. CMG stock bounced back up. Bloomin' will follow once investors figure out that the swine scare is no big deal for the company. Who goes to Outback to order a pork chop anyway? PriceSmart (PSMT)You may have noticed that Costco (NASDAQ:COST) has quietly been one of the top-performing retail stocks of the past decade. It's up eight-fold, in fact, since the early 2000s.For investors that missed Costco, there's good news - a copycat has taken the Costco model to Central and South America. It's called PriceSmart (NASDAQ:PSMT), and it operates in Colombia, Panama, Costa Rica, and other such countries using the same membership and low-cost retail model.Until recently, investors took the "Costco of Latin America" label a little too seriously, and bid PriceSmart stock up to the stratosphere. It often traded above 30x earnings despite relatively slow earnings growth. A recent drop in emerging market sentiment, along with PriceSmart struggling to find good new store locations, has finally taken the stock back to a more reasonable valuation. Additionally, an earnings misssent PSMT stock down to near its 52-week lows.While PriceSmart is now priced attractively for being a standalone operation, it has also become an intriguing takeover target. Walmart (NYSE:WMT) - the largest retailer in Mexico and Central America - might take a look. It's a natural bolt-on given that Walmart already runs that type of store with its Sam's Club franchise. Falabella - Chile's dominant retailer - has been expanding northward and could use more presence in Colombia. And Exito, Colombia's leading grocery and hypermarket player, could be another potential PriceSmart buyer.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post 4 Retail Stocks to Buy in Time for the Back-to-School Rush appeared first on InvestorPlace.

  • GuruFocus.com6 days ago

    52-Week Company Lows

    Details the 52-week lows for the following companies: Bristol-Myers Squibb, Simon Property Group, Bank of New York Mellon, Carnival Corp., State Street, and Kroger. Continue reading...

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  • Markit12 days ago

    See what the IHS Markit Score report has to say about Simon Property Group Inc.

    Simon Property Group Inc NYSE:SPGView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for SPG with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $6.03 billion over the last one-month into ETFs that hold SPG are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. SPG credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

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  • Simon Property Group, Inc. (NYSE:SPG): Commentary On Fundamentals
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  • 7 Retail Stocks to Buy That Are Down in 2019
    InvestorPlace18 days ago

    7 Retail Stocks to Buy That Are Down in 2019

    If you own either Nordstrom (NYSE:JWN) or Gap (NYSE:GPS) stock, you wouldn't have enjoyed reading CNN Business contributor Paul La Monica's June 28 article. La Monica informed his readers that these two retailers were the worst-performing S&P 500 stocks through the first six months of 2019. They were not the stocks to buy in the first half of the year. The article goes on to highlight other brick-and-mortar retailers that struggled in the first half of the year due to poor sales and profits. InvestorPlace - Stock Market News, Stock Advice & Trading TipsHow have the retail ETFs done so far in 2019 compared to the S&P 500?Not well. While the broad market S&P 500 ETFs were up almost 20% in the first half of the year, the top retail ETFs by assets under management (AUM) have generated between half and one-quarter the returns. However, just because a group of stocks has under-performed in one period doesn't mean they will under-perform in another. * 10 Stocks That Should Be Every Young Investor's First Choice For those who believe retail stocks will make a comeback in the second half, here are the seven stocks to buy that are down, but not out. Simon Property Group (SPG)Source: m01229 via Flickr (Modified)As retail stocks go, Simon Property Group (NYSE:SPG) is faring much better in 2019, although it's still down for the year. With retail stocks doing poorly, the focus falls on SPG and whether it can transform its malls into experiential palaces rather than moribund ghost towns where retailers go to die.However, as Greg Andrews of the Indianapolis Business Journal wrote about the mall owner recently, SPG "racked up annualized total return of 14% a year, far better than the 9.6% posted by the S&P 500" since going public in 1993. It's got staying power despite living through several market corrections as a publicly traded company. Plus, let's not forget that SPG stock has gone sideways the last five years while the index has gone on a tear. For me, the creme always rises to the top. CEO David Simon has been busy putting together a better mix of tenants that resonate with shoppers. Andrews highlighted the fact that Simon is making about 27% more from rent when it replaces an under-performing tenant with a newer, more appropriate one for today's changing retail climate. Despite the fact investors see brick-and-mortar retail doing poorly, Simon's evolution of its real estate ensures that the future is brighter than most people think.As Mark Twain said, "Buy land. They're not making it any more." SPG is a long-term buy. Stocks to Buy: Kroger (KR)Source: Shutterstock It's been a mixed bag in 2019 for grocery store chains. Some are up while others, such as Kroger (NYSE:KR), the nation's largest publicly traded grocery store, are down.It seems investors continue to be worried about Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT), and even Target (NYSE:TGT). They shouldn't be. Despite Jeff Bezos claiming all kinds of changes would happen under Amazon's leadership, little has changed at Whole Foods in the two years since Amazon acquired the high-end grocery store. In fact, if investors take a closer look at what Amazon has done with Whole Foods, they will realize that it's not the great emancipator everyone says it is. "Food seems to be a category that keeps bedeviling Amazon. It said last week it will close its 4-year-old restaurant food delivery operation in the U.S., an admission that it had been outgunned by Grubhub, Doordash and Uber Eats," wrote Los Angeles Times contributors Sarah Halzack and Shira Ovide on June 16. "It earlier pared back the footprint of its 12-year-old Amazon Fresh grocery-delivery service, which struggled long before Whole Foods was in its tent."The fact is, Kroger's transformation continues to deliver long-term benefits for the grocery store chain. These benefits include cost savings, real-time data analysis, alternative revenue streams, and higher online sales. In just five years, for example, it will have grown digital sales from nothing in 2014 to $5 billion in the coming year. * 7 F-Rated Stocks to Sell for Summer In five more years, I'm confident that Kroger will be a different company from the one you see today. From where I sit, that's an excellent thing. Kohl's (KSS)Source: Hailey Pollard via FlickrThe second quarter was Kohl's (NYSE:KSS) worst quarter in the markets since 2001. You can now buy its stock for the same price you would have paid in November 2017. Yet, the retailer has more revenue and operating profits than it did two years ago. According to Miller Tabak equity strategist Matt Maley, the punishment dished out to KSS shareholders is overdone. "Its weekly RSI chart is quite oversold and that one could be due for a bounce, one that could last more than a couple of days," Maley said June 28 on CNBC. Kohl's has been hit by weak sales so far in 2019. This has forced CEO Michelle Gass to lower its earnings per share guidance for the fiscal year from $5.98 (midpoint of estimate) to $5.30, an 11% cut to the bottom line. However, now that KSS has rolled out Amazon's return program nationwide and launched in-store initiatives, the outlook for the second half of the year is much brighter. The company has also become more adept at managing its inventory levels at lower-volume stores, helping it keep margins higher at locations that aren't performing to its standard. It's a big reason Kohl's is shuttering Off/Aisle stores, the company's off-price experiment. As I stated earlier this year, I recommended investors continue to watch how Kohl's partnership with Amazon progresses. Now that it has gone nationwide, I see Kohl's in-store revenues increasing as Amazon users return goods. The partnership has proven to be a winner. Soon, Kohl's stockholders will reap the benefits. Urban Outfitters (URBN)Source: Shutterstock Business Insider often runs an article where a writer compares two different retail stores to gain a perspective as to why one stock is outperforming another. Recently, Shoshy Ciment shopped at both Urban Outfitters (NASDAQ:URBN) and American Eagle Outfitters (NYSE:AEO) stores in New York City.Ciment concluded that it was easy to see why American Eagle was dominating its segment of the retail sector. The Urban Outfitters store was in shambles while AEOs was a thing of beauty. While I get the Peter Lynch idea of seeing first hand how a business is operating, this exercise fails to consider several reasons why it might not be indicative of the entire picture. First, it's possible that the Urban Outfitters store was in the middle of changing its floor layout, which led to the less-than-desirable optics. Secondly, it's also possible that the URBN store was in-between managers. Retail has tremendous turnover, which often leads to terrible-looking stores while a team is understaffed. I could go on. The point is, you shouldn't surmise that one unsightly store is indicative of a poorly-performing stock or company. The opposite also holds. While it's true that AEO stock isn't doing nearly as poorly as URBN stock in 2019, they're both in the red year-to-date. Though AEO's Aerie line is killing it, shareholders should be concerned that it still can't deliver positive returns.That said, Urban Outfitters' three brands: Urban Outfitters, Anthropologie, and Free People, have seen a slowdown of sales in recent quarters. * The 7 Top Small-Cap Stocks Of 2019 However, from a value perspective, if you back out the company's $637 million in cash and marketable securities (it has no debt), you get an enterprise value of almost $1.7 billion. In the trailing 12 months ended April 30, Urban Outfitters had $290 million in free cash flow, for an FCF yield of about 17%, putting it easily within the value category. Genesco (GCO) These last three retail stocks to buy all come with significant warts, so do your due diligence before purchasing any of them.The recent hiring of Mel Tucker as Genesco (NYSE:GCO) CFO suggests to me that good things are just around the corner for the Nashville company. Tucker's got extensive experience in the retail industry, most recently serving as CFO at the iconic New York City department store, Century 21. Genesco is transforming into a footwear retailer. In December, it sold off its Lids stores for just $100 million. The sale allows CGO to focus on shoes and generate some cash it could reinvest in its Journeys business, which produced 7% same-store sales in the first quarter ended May 4. That's on top of 6% same-store sales growth in the same quarter a year earlier. In the first quarter, Journeys generated about 65% of Genesco's overall revenue and a big chunk of its total operating profits. Overall, Geneco's adjusted EPS was $0.33, almost 136% higher than a year earlier. As a result, it expects to generate EPS of $3.55 in fiscal 2019. At a current price of $41, GCO stock is trading at less than 12 times those earnings. With net cash of $83 million and free cash flow of almost $157 million, GCO stock is worth a closer look. Michaels (MIK)Source: Shutterstock The crafts retailer is your typical private equity horror story. Michaels (NASDAQ:MIK) was taken private in 2006 for $6 billion by Blackstone Group (NYSE:BX) and Bain Capital (NYSE:BCSF). After weathering the financial crisis, it was finally ready to go public in 2012. Unfortunately, the CEO had a stroke and the IPO was postponed until June 2014 when it raised $473 million selling shares to the public at $17 apiece.Trading at less than half its IPO price, MIK stock continues to struggle with internal and external issues, the most recent being investor concerns about the company's debt. In May, Michaels refinanced $500 million of its 5.875% debt at 8%, a sign that investors are worried about how the U.S. tariffs will impact a company reliant on Chinese imports. Before Michaels was taken private, it had no debt and $452 million in cash on the balance sheet. After the takeover, Michaels had $3.7 billion in debt and just $30 million in cash.The private equity owners used its sound financial standing to get almost $4 billion in loans to pay for its acquisition. At the end of the quarter Michaels had $2.7 billion in debt, $246 million in cash, and $5.2 million in annualized revenues.Why do I think you should buy it? * 7 Stocks to Buy for a Dovish Fed Someone will come along to take it private, slap a coat of paint on it, and take it public for a second time in less than a decade. Buckle (BKE)Buckle (NYSE:BKE) was a darn good stock and decent retailer to boot before it went into the toilet. Buckle now has a market cap of just $811 million, well below where it was trading at its height in 2015.However, despite having negative same-store sales for the past four years, BKE continues to make money, which is what ultimately drives stock prices higher. Back in 2015, Buckle was generating sales per square foot of $459. Today it's down to $334, or 37% lower. On the positive side, it has no debt, a working capital of $280 million, and has paid out $14.02 in regular and special dividends over the past five years. From a free cash flow perspective, Buckle's got $110 million for an FCF yield of 11.7%, also in value territory. If you're looking to capture a little income and aren't so concerned about capital appreciation, Buckle stock is a diamond in the rough. And who knows, it might figure out how to grow again.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks That Should Be Every Young Investor's First Choice * 5 IPO Stocks to Buy -- According to Wall Street Analysts * The Top 10 Best Sectors in the Market for 2019 The post 7 Retail Stocks to Buy That Are Down in 2019 appeared first on InvestorPlace.

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    Forever 21 Officials Approached Landlords About Possible Purchase

    (Bloomberg) -- A small faction of officials at Forever 21 Inc. has asked its biggest landlords if they’d consider taking a stake in the clothing retailer, as the company’s leadership battles internally about how to turn around the struggling store chain.The group, which didn’t have the backing of the company’s co-founder, talked to Simon Property Group Inc. and Brookfield Property Partners LP about a range of options including a sale, according to people with knowledge of the matter. A rival set of officials, aligned with co-founder Do Won Chang, has opposed any such deal with landlords, the people said, as Chang wants to preserve control over the empire that made him a billionaire.A representative for Forever 21 said the company hasn’t had talks with landlords outside of rent negotiations. “While Forever 21’s policy is not to comment on speculations, we feel it’s important to refute these rumors, which are categorically incorrect,” the company said in a statement. “As a normal course of business, Forever 21 has been in regular rent renegotiation meetings. We have not had any conversations with mall operators regarding an investment in the company, nor a sale.”There is a precedent for landlords taking over retailers. Aeropostale Inc., the teen clothing store, sold itself in bankruptcy to a group including the two biggest U.S. mall owners in 2016. With Forever 21, the situation is fluid and it’s not clear how the company will restructure, said the people, who asked not to be identified because the discussions are private.Simon Property Group and Brookfield Property Partners, the biggest owners of malls in the U.S., are increasingly willing to discuss a wide range of options with tenants as retailers nationwide struggle to boost sales, including making steep concessions in leases. Online stores are winning more business, and malls are finding it harder to gain foot traffic.Representatives for Simon Property Group and Brookfield Property Partners declined to comment.Forever 21 operates more than 800 stores in the U.S., Europe, Asia and Latin America, with most in the U.S. Chang and his wife Jin Sook Chang, whose daughters now help run the company, opened their first store in Los Angeles in 1984 and established it as a destination for younger shoppers looking for trendy clothes at affordable prices. But competitors have crowded into the segment, from H&M to Target to new online sellers.Mall UpheavalForever 21 is a key tenant to both landlords. Indianapolis-based Simon, a real estate investment trust that is the largest U.S. mall owner, counts Forever 21 as its sixth-largest store tenant outside of department stores, with 99 outlets covering 1.5 million square that account for 1.4% of the company’s total base minimum rent in the U.S., according to a filing as of March 31.For Brookfield Property Partners -- a unit of Toronto-based Brookfield Asset Management Inc. -- Forever 21 accounted for 2% of its minimum rents, according to a filing as of March 31. Brookfield last year bought GGP Inc., the second-largest U.S. mall operator.“Mall REIT exposure to Forever 21 is definitely bigger than most department stores, which pay very little base rent per square foot,” said Bloomberg Intelligence analyst Lindsay Dutch.Forever 21’s management, while fractured, has been busy over the past few weeks, holding discussions with lenders including Apollo Global Management LLC about potential bankruptcy financing. It has added investment bank Lazard Ltd. and law firm Kirkland & Ellis to its roster of advisers. It had tapped Latham & Watkins, its longtime legal counsel, for restructuring advice before adding Kirkland & Ellis. Latham & Watkins didn’t comment.The company is trying to avoid falling victim to the retail shakeout that destroyed dominant chains such as Borders Group and Sports Authority as consumers defected to online merchants. Many of the failed stores had been bought out by private equity firms that loaded the companies up with debt, leaving them unable to make investments needed to compete with rivals such as Amazon.com.(Updates with comment from BI analyst in paragraph 10.)\--With assistance from Scott Deveau, Boris Korby and Kiel Porter.To contact the reporters on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net;Eliza Ronalds-Hannon in New York at eronaldshann@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Dan WilchinsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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