The most recent trading session ended with Simon Property (SPG) standing at $140.65, reflecting a +0.28% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.18% for the day. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.1%.
Coming into today, shares of the shopping mall real estate investment trust had gained 6.78% in the past month. In that same time, the Finance sector gained 4.37%, while the S&P 500 gained 2.75%.
The investment community will be closely monitoring the performance of Simon Property in its forthcoming earnings report. The company is expected to report EPS of $3.34, up 6.03% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.47 billion, showing a 4.78% escalation compared to the year-ago quarter.
Investors should also note any recent changes to analyst estimates for Simon Property. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% decrease. Simon Property presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Simon Property is currently trading at a Forward P/E ratio of 11.53. This indicates a discount in contrast to its industry's Forward P/E of 13.19.
It's also important to note that SPG currently trades at a PEG ratio of 6.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Retail was holding an average PEG ratio of 3.21 at yesterday's closing price.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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