Simon Property Group Inc. (NYSE: SPG) stock fell -0.89% on Thursday to $101.25 against a previous-day closing price of $102.16. With 1.39 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.54 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $102.33 whereas the lowest price it dropped to was $100.17. The 52-week range on SPG shows that it touched its highest point at $133.08 and its lowest point at $86.02 during that stretch. It currently has a 1-year price target of $130.90. With its current market cap of 33.17 billion, SPG has annualized dividend of $7.40 while the current yield stands at 7.31%. Beta for the stock currently stands at 1.54.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SPG was down-trending over the past week, with a drop of -4.06%, but this was down by -6.54% over a month. Three-month performance dropped to -16.89% while six-month performance fell -15.19%. The stock lost -6.12% in the past year, while it has lost -13.82% so far this year. A look at the trailing 12-month EPS for SPG yields 6.60 with Next year EPS estimates of 6.68. For the next quarter, that number is 1.62. This implies an EPS growth rate of -4.70% for this year and 10.37% for next year. EPS is expected to grow by 8.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 0.90%.
Float and Shares Shorts:
At present, 326.95 million SPG shares are outstanding with a float of 325.77 million shares on hand for trading. On May 14, 2023, short shares totaled 6.18 million, which was 1.89% higher than short shares on Apr 13, 2023. In addition to Mr. David E. Simon as the firm’s Chairman, CEO & Pres, Mr. Brian J. McDade serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 88.13% of SPG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.48% of SPG, in contrast to 38.34% held by mutual funds. Shares owned by individuals account for 1.24%. As the largest shareholder in SPG with 14.33% of the stake, The Vanguard Group, Inc. holds 46,849,493 shares worth 46,849,493. A second-largest stockholder of SPG, BlackRock Fund Advisors, holds 22,939,008 shares, controlling over 7.02% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SPG, holding 22,699,377 shares or 6.94% stake. With a 4.27% stake in SPG, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 13,968,382 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of SPG stock, is the second-largest Mutual Fund holder. It holds 10,159,021 shares valued at 1.15 billion. Vanguard 500 Index Fund holds 2.35% of the stake in SPG, owning 7,674,171 shares worth 869.64 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SPG reported revenue of $1.28B and operating income of $626.76M. The EBITDA in the recently reported quarter was $1.12B and diluted EPS was $1.51.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPG analysts setting a high price target of $160.00 and a low target of $106.00, the average target price over the next 12 months is $129.91. Based on these targets, SPG could surge 58.02% to reach the target high and rise by 4.69% to reach the target low. Reaching the average price target will result in a growth of 28.31% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded SPG stock several times over the past three months with 24 Buys and 5 Sells. In these transactions, 41,882 shares were bought while 1,837 shares were sold. The number of buy transactions has increased to 60 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 104,139 while 20,227 shares were sold.
