Simon Property Target Price Up as Bank of America Sees Catalysts
Simon Property firmed after Bank of America increased its price target for the country’s biggest shopping mall REIT to $165 from $150.
Shares of Simon Property Group (SPG) - Get Simon Property Group, Inc. Report firmed Friday, touching a 52-week high, after Bank of America increased its price target for the country’s biggest shopping mall REIT to $165 from $150.
Analyst Jeffrey Spector affirmed his buy rating.
“We see several positive catalysts ahead to move SPG's share price higher,” Spector said.
“1) Upward [Wall Street earnings estimate] revisions [for] 2022 and 2023, based on a stronger-than-expected second half of 2021.
“2) Taubman, [a mall owner Simon bought last year,] is exceeding underwriting, as U.S. luxury sales boom and SPG uses its strong balance sheet to add new tenants to the portfolio.
“3) International tourism moves from a headwind to a tailwind, benefiting Simon's coastal and tourist destination assets.
“4) SPG offers key late-cycle winning attributes, including a high distribution yield of about 4.2% … and strong distribution growth (estimating 6.7% and 6.3% in 2022 and 2023, respectively).
“5) Normalization of rents and lease terms in 2022, as retailers are focused … on omnichannel efforts, which is boosting demand for space at dominant retail centers.”
Simon Property shares recently traded at $145.01, up 0.7%, and on Friday touched a 52-week high $145.60. They have jumped 11% over the past month.
Morningstar analyst Kevin Brown puts fair value for the stock at $149 but assigns it no moat.
“Simon is still dealing with the fallout of the coronavirus pandemic,” he wrote last month.
“We believe that Class A malls will rebound … but the short-term impact to Simon's cash flow has been significant.”
https://www.thestreet.com/investing/sim ... 65-dollars
Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
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Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Simon Property Group (NYSE:SPG) stock rose 3.9% as the mall operator raised its 2021 profit forecast after soundly beating earnings expectations. It also lifted its quarterly dividend.
Simon Property announced a 10% sequential hike in its fourth-quarter 2021 dividend. The company will now pay $1.65 per share compared with the $1.50 paid earlier. The increased dividend will be paid on Dec 31, to shareholders on record as of Dec 10, 2021
Simon Property announced a 10% sequential hike in its fourth-quarter 2021 dividend. The company will now pay $1.65 per share compared with the $1.50 paid earlier. The increased dividend will be paid on Dec 31, to shareholders on record as of Dec 10, 2021
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Simon Property hikes dividend by 3%
Simon Property Group (SPG) will hike its quarterly dividend by 3 percent to $1.70 per share.
Simon Property Group (SPG) will hike its quarterly dividend by 3 percent to $1.70 per share.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Investing.com - Simon Property (NYSE:SPG) reported on Monday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Simon Property announced earnings per share of $1.51 on revenue of $1.28B. Analysts polled by Investing.com anticipated EPS of $1.52 on revenue of $1.22B.
Simon Property shares are up 20% from the beginning of the year, still down 36.58% from its 52 week high of $171.12 set on November 18, 2021. They are outperforming the Nasdaq which is down 20.94% from the start of the year.
Simon Property shares gained 0.44% in after-hours trade following the report.
Simon Property follows other major Real Estate sector earnings this month
Simon Property's report follows an earnings beat by American Tower on Thursday, who reported EPS of $1.95 on revenue of $2.67B, compared to forecasts EPS of $0.9591 on revenue of $2.65B.
Prologis had beat expectations on July 18 with second quarter EPS of $0.82 on revenue of $1.09B, compared to forecast for EPS of $0.6478 on revenue of $1.11B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar
Simon Property announced earnings per share of $1.51 on revenue of $1.28B. Analysts polled by Investing.com anticipated EPS of $1.52 on revenue of $1.22B.
Simon Property shares are up 20% from the beginning of the year, still down 36.58% from its 52 week high of $171.12 set on November 18, 2021. They are outperforming the Nasdaq which is down 20.94% from the start of the year.
Simon Property shares gained 0.44% in after-hours trade following the report.
Simon Property follows other major Real Estate sector earnings this month
Simon Property's report follows an earnings beat by American Tower on Thursday, who reported EPS of $1.95 on revenue of $2.67B, compared to forecasts EPS of $0.9591 on revenue of $2.65B.
Prologis had beat expectations on July 18 with second quarter EPS of $0.82 on revenue of $1.09B, compared to forecast for EPS of $0.6478 on revenue of $1.11B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Latest Release
Feb 06, 2023
EPS / Forecast
3.15 / 3.13
Revenue / Forecast
1.39B / 1.29B
Feb 06, 2023
EPS / Forecast
3.15 / 3.13
Revenue / Forecast
1.39B / 1.29B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Investing.com - Simon Property (NYSE: SPG) reported first quarter EPS of $1.38, $0.06 worse than the analyst estimate of $1.44. Revenue for the quarter came in at $1.35B versus the consensus estimate of $1.26B.
Guidance
Simon Property sees FY 2023 EPS of $6.45-$6.60 versus the analyst consensus of $6.00.
Simon Property's stock price closed at $112.11. It is down -14.93% in the last 3 months and down -7.25% in the last 12 months.
Simon Property saw 2 positive EPS revisions and 1 negative EPS revisions in the last 90 days. See Simon Property's stock price’s past reactions to earnings here.
According to InvestingPro, Simon Property's Financial Health score is "weak performance".
Guidance
Simon Property sees FY 2023 EPS of $6.45-$6.60 versus the analyst consensus of $6.00.
Simon Property's stock price closed at $112.11. It is down -14.93% in the last 3 months and down -7.25% in the last 12 months.
Simon Property saw 2 positive EPS revisions and 1 negative EPS revisions in the last 90 days. See Simon Property's stock price’s past reactions to earnings here.
According to InvestingPro, Simon Property's Financial Health score is "weak performance".
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Latest Release
May 02, 2023
EPS / Forecast
1.38 / 1.44
Revenue / Forecast
1.35B / 1.26B
May 02, 2023
EPS / Forecast
1.38 / 1.44
Revenue / Forecast
1.35B / 1.26B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
This “A”-Rated Stock Now Yields 7% and Offers a Great Margin of Safety
by James Long and Chuck Carnevale, FAST Graphs • May 29, 2023
Introduction to SPG
According to the company’s investor relations page on this REIT, Simon Property Trust (SPG) is
… a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company. [Its] properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
The founder-led company was incorporated as a REIT in 1986 and has been in business for 37 years. SPG’s portfolio as of December 2022 includes direct ownership of 196 income-producing properties in the United States: 94 traditional malls, 69 premium outlets, 14 Mills centers, 6 lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. 12 months prior to the pandemic, Simon’s portfolio averaged $693 in sales per square foot; it is now $759.
The company has international business ventures too. SPG has a 21% stake in Klepierre, a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 33 premium outlets across 11 countries including Australia, Canada, France, Germany, Mexico, Japan, Korea, Thailand, and Malaysia.
...
https://dailytradealert.com/2023/05/29/ ... of-safety/
by James Long and Chuck Carnevale, FAST Graphs • May 29, 2023
Introduction to SPG
According to the company’s investor relations page on this REIT, Simon Property Trust (SPG) is
… a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company. [Its] properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
The founder-led company was incorporated as a REIT in 1986 and has been in business for 37 years. SPG’s portfolio as of December 2022 includes direct ownership of 196 income-producing properties in the United States: 94 traditional malls, 69 premium outlets, 14 Mills centers, 6 lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. 12 months prior to the pandemic, Simon’s portfolio averaged $693 in sales per square foot; it is now $759.
The company has international business ventures too. SPG has a 21% stake in Klepierre, a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 33 premium outlets across 11 countries including Australia, Canada, France, Germany, Mexico, Japan, Korea, Thailand, and Malaysia.
...
https://dailytradealert.com/2023/05/29/ ... of-safety/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Simon Property Group, Inc. REIT NYSE: SPG retail, centra handlowe
Simon Property slashes annual profit forecasts as leasing demand slumps
(Reuters) - Simon Property (NYSE:SPG) lowered its annual profit forecast on Wednesday, signaling a fall in leasing demand from retailers who are battling conservative consumer spending and higher rentals.
High borrowing and input costs have weighed heavily on retailers and restaurant owners, even as customers turn conscious about spending under inflationary pressures.
This has slowed footfall at outlet malls, shopping centers and restaurants, denting leasing demand for Simon Property. The real estate trust has also raised its base minimum rent, which was up 3.1% in the quarter ended June 30, in order to protect margins.
With student loan repayments returning in the second half of the year, discretionary spending is likely to be curtailed further.
The company now expects annual net income attributable to shareholders to be between $6.39 and $6.49 per share, compared with its previous forecast between $6.45 to $6.60 per share.
Data from UBS Evidence Lab showed that outlet malls have seen lower foot traffic and mall tenant categories of clothing and accessories, and food services and drinking places have seen growth rates fall below the overall retail sales level in May.
This is in contrast to grocery-oriented shopping centers such as those owned by Simon Property's peer Kimco Realty (NYSE:KIM), which beat quarterly revenue estimates last week.
Simon Property's reported funds from operations (FFO) per share of $2.88 in the quarter ended June 30 dropped from $2.91 a year ago. Analysts on average had expected per share FFO of $2.92, as per Refinitiv data.
Net revenue from lease income in the second quarter came in at $1.25 billion, in line with Street expectations.
(Reuters) - Simon Property (NYSE:SPG) lowered its annual profit forecast on Wednesday, signaling a fall in leasing demand from retailers who are battling conservative consumer spending and higher rentals.
High borrowing and input costs have weighed heavily on retailers and restaurant owners, even as customers turn conscious about spending under inflationary pressures.
This has slowed footfall at outlet malls, shopping centers and restaurants, denting leasing demand for Simon Property. The real estate trust has also raised its base minimum rent, which was up 3.1% in the quarter ended June 30, in order to protect margins.
With student loan repayments returning in the second half of the year, discretionary spending is likely to be curtailed further.
The company now expects annual net income attributable to shareholders to be between $6.39 and $6.49 per share, compared with its previous forecast between $6.45 to $6.60 per share.
Data from UBS Evidence Lab showed that outlet malls have seen lower foot traffic and mall tenant categories of clothing and accessories, and food services and drinking places have seen growth rates fall below the overall retail sales level in May.
This is in contrast to grocery-oriented shopping centers such as those owned by Simon Property's peer Kimco Realty (NYSE:KIM), which beat quarterly revenue estimates last week.
Simon Property's reported funds from operations (FFO) per share of $2.88 in the quarter ended June 30 dropped from $2.91 a year ago. Analysts on average had expected per share FFO of $2.92, as per Refinitiv data.
Net revenue from lease income in the second quarter came in at $1.25 billion, in line with Street expectations.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
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