Simon Property Group Inc. (NYSE:SPG) finished Wednesday with an addition of $0.71 to close at $111.64, an upside of 0.64 percent. An average of 1,505,400 shares of common stock have been traded in the last five days. There was a fall of -$3.97 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 1,307,370 shares traded, while the 50-day average volume stands at 1,465,872.
SPG stock has decreased by -9.74% in the last month. The company shares reached their 1-month lowest point of $110.56 on 08/23/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $86.02 and a high of $133.08 in 52 weeks. It has reached a new high 6 times so far this year and lost -4.97% or -$5.84 in price. In spite of this, the price is down -16.11% from the 52-week high.
Valuation Metrics
Simon Property Group Inc. (SPG) has a trailing price-to-earnings (P/E) ratio of 16.98. The stock’s beta is 1.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.64, the price-to-book (PB) ratio at 12.91, and the price-to-cash flow ratio at 11.62.
The company has a payout ratio of 109.50%. The company’s most recent quarterly dividend payment was $1.90 a share, representing a up of 2.7% from $1.85 last year.
Financial Health
Further, the company has a long term debt to equity ratio of 8.83 and a total debt to equity ratio of 8.83 for the quarter ending June 29. Its gross profit as reported stood at $2.58 billion compared to revenue of $5.29 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Simon Property Group Inc.’s return on assets was 6.50%.
Earnings Surprise
For the three-month period that ended June 29, Simon Property Group Inc. had $24.99 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $556.56 million in the quarter, while revenues of $517.18 million were shrunk -2.11%. The analyst consensus anticipated Simon Property Group Inc.’s latest quarter earnings to come in at $1.54 per share, but it turned out to be $1.49, a -3.20% surprise. For the quarter, EBITDA amounted to $996.98 million. At the end of the quarter ending June 29, Simon Property Group Inc.’s stock balance sheet showed total debt was $25.48 billion. Shareholders own equity worth $327.2 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Simon Property Group Inc. (SPG) price momentum. RSI 9-day as of the close on 23 August was 26.01%, suggesting the stock is oversold, with historical volatility in this time frame at 18.13%.
As of today, SPG’s price is $113.01 -3.43% or -$3.97 from its 5-day moving average. SPG is currently trading -10.09% lower than its 20-day SMA and +3.79% higher than its 100-day SMA. However, the stock’s current price level is +1.53% above the SMA50 and -0.83% below the SMA200.
The stochastic %K and %D were 4.19% and 5.95%, respectively, and the average true range (ATR) was 2.38. With the 14-day stochastic at 10.47% and the average true range at 2.37, the RSI (14) stands at 31.85%. The stock has reached -3.39 on the 9-day MACD Oscillator while the 14-day reading was at -4.74.
Analyst Ratings
Evercore ISI downgraded Simon Property Group Inc. (NYSE: SPG) to a an In-line rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Simon Property Group Inc. (SPG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SPG, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.
What is SPG’s price target for the next 12 months?
Analysts predict a range of price targets between $106.00 and $160.00, with a median target of $130.00. Taking a look at these predictions, the average price target given by analysts for Simon Property Group Inc. (SPG) stock is $132.08.
