Simon Property (SPG) Stock Moves -0.78%: What You Should Know
Simon Property (SPG) closed at $147.43 in the latest trading session, marking a -0.78% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 4.46% over the past month. This has lagged the Finance sector's gain of 2.59% and the S&P 500's loss of 1.81% in that time.
Simon Property will be looking to display strength as it nears its next earnings release, which is expected to be February 7, 2022. On that day, Simon Property is projected to report earnings of $2.86 per share, which would represent year-over-year growth of 31.8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.31 billion, up 16.12% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Simon Property. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.16% higher. Simon Property currently has a Zacks Rank of #2 (Buy).
Investors should also note Simon Property's current valuation metrics, including its Forward P/E ratio of 12.71. This valuation marks a discount compared to its industry's average Forward P/E of 15.87.
Also, we should mention that SPG has a PEG ratio of 1.31. 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. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 2.18 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 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Simon Property Group, Inc. (SPG) : Free Stock Analysis Report
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