Simon Property Group Inc. [NYSE: SPG] gained 4.36% on the last trading session, reaching $63.41 price per share at the time. The company report on October 20, 2020 that Simon Property Group Announces Date For Its Third Quarter 2020 Earnings Release And Conference Call.
Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced details for its third quarter 2020 earnings release and conference call.
Simon’s financial and operational results for the quarter ending September 30, 2020, will be released after the market close on November 9, 2020. The Company will host its quarterly earnings conference call and an audio webcast on November 9 at 5:00 p.m. Eastern Time.
Simon Property Group Inc. represents 305.88 million in outstanding shares, while the company has a total market value of $19.24 billion with the latest information. SPG stock price has been found in the range of $60.17 to $64.11.
If compared to the average trading volume of 4.89M shares, SPG reached a trading volume of 5816376 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Simon Property Group Inc. [SPG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPG shares is $80.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPG stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Simon Property Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, Compass Point raised their target price to Buy. The new note on the price target was released on June 04, 2020, representing the official price target for Simon Property Group Inc. stock. Previously, the target price had yet another drop from $130 to $60, while Wells Fargo kept a Equal Weight rating on SPG stock.
The Average True Range (ATR) for Simon Property Group Inc. is set at 2.56, with the Price to Sales ratio for SPG stock in the period of the last 12 months amounting to 3.62. The Price to Book ratio for the last quarter was 9.76, with the Price to Cash per share for the same quarter was set at 10.89.
Trading performance analysis for SPG stock
Simon Property Group Inc. [SPG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.43. With this latest performance, SPG shares dropped by -1.96% in over the last four-week period, additionally plugging by 0.33% over the last 6 months – not to mention a drop of -58.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPG stock in for the last two-week period is set at 44.79, with the RSI for the last a single of trading hit 43.88, and the three-weeks RSI is set at 45.77 for Simon Property Group Inc. [SPG]. The present Moving Average for the last 50 days of trading for this stock 66.75, while it was recorded at 63.54 for the last single week of trading, and 77.47 for the last 200 days.
Simon Property Group Inc. [SPG]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Simon Property Group Inc. [SPG] shares currently have an operating margin of +35.95 and a Gross Margin at +60.14. Simon Property Group Inc.’s Net Margin is presently recorded at +36.78.
Return on Total Capital for SPG is now 7.40, given the latest momentum, and Return on Invested Capital for the company is 8.43. Return on Equity for this stock inclined to 71.67, with Return on Assets sitting at 6.74. When it comes to the capital structure of this company, Simon Property Group Inc. [SPG] has a Total Debt to Total Equity ratio set at 976.89. Additionally, SPG Total Debt to Total Capital is recorded at 90.71, with Total Debt to Total Assets ending up at 79.02. Long-Term Debt to Equity for the company is recorded at 877.24, with the Long-Term Debt to Total Capital now at 80.09.
Reflecting on the efficiency of the workforce at the company, Simon Property Group Inc. [SPG] managed to generate an average of $463,711 per employee. Receivables Turnover for the company is 7.11 with a Total Asset Turnover recorded at a value of 0.18.
Simon Property Group Inc. [SPG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Simon Property Group Inc. posted 1.77/share EPS, while the average EPS was predicted by analysts to be reported at 1.69/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Simon Property Group Inc. go to 8.60%.
An analysis of insider ownership at Simon Property Group Inc. [SPG]
There are presently around $17,733 million, or 91.70% of SPG stock, in the hands of institutional investors. The top three institutional holders of SPG stocks are: VANGUARD GROUP INC with ownership of 39,625,799, which is approximately -1.769% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 31,738,550 shares of the stock with an approximate value of $2.01 billion in SPG stocks shares; and STATE STREET CORP, currently with $1.25 billion in SPG stock with ownership of nearly -2.672% of the company’s market capitalization.
Positions in Simon Property Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 332 institutional holders increased their position in Simon Property Group Inc. [NYSE:SPG] by around 32,149,705 shares. Additionally, 344 investors decreased positions by around 46,938,771 shares, while 94 investors held positions by with 200,571,984 shares. The mentioned changes placed institutional holdings at 279,660,460 shares, according to the latest SEC report filing. SPG stock had 103 new institutional investments in for a total of 4,269,690 shares, while 96 institutional investors sold positions of 7,201,807 shares during the same period.