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Simon Property (SPG) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Simon Property (SPG) closed at $143.93, marking a -1.67% move from the previous day. This change lagged the S&P 500's daily loss of 0.51%.

Heading into today, shares of the shopping mall real estate investment trust had gained 9.47% over the past month, outpacing the Finance sector's gain of 5.35% and the S&P 500's gain of 3.08% in that time.

Wall Street will be looking for positivity from SPG as it approaches its next earnings report date. This is expected to be November 1, 2021. On that day, SPG is projected to report earnings of $2.48 per share, which would represent year-over-year growth of 20.98%. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 16% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $10.87 per share and revenue of $4.99 billion, which would represent changes of +19.32% and +8.25%, respectively, from the prior year.

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Any recent changes to analyst estimates for SPG 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.45% higher. SPG is currently a Zacks Rank #2 (Buy).

Digging into valuation, SPG currently has a Forward P/E ratio of 13.47. For comparison, its industry has an average Forward P/E of 16.68, which means SPG is trading at a discount to the group.

Also, we should mention that SPG has a PEG ratio of 1.89. 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 2.65 as of yesterday's close.

The REIT and Equity Trust - Retail industry is part of the Finance sector. This group has a Zacks Industry Rank of 38, putting it in the top 15% 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.

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


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