SPG Stock Recent News

Simon Property (SPG) came out with quarterly funds from operations (FFO) of $3.69 per share, beating the Zacks Consensus Estimate of $3.34 per share. This compares to FFO of $3.15 per share a year ago.

Simon Property Group topped market expectations for fourth-quarter funds from operations (FFO) on Monday, as the commercial real estate investment trust (REIT) benefited from strong leasing demand at its malls and shopping centers.

While Simon Property (SPG) is poised to benefit from its efforts to support omnichannel retailing and solid balance sheet strength, high interest rates are likely to have acted as a spoilsport.

Evaluate the expected performance of Simon Property (SPG) for the quarter ended December 2023, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

In the most recent trading session, Simon Property (SPG) closed at $141.96, indicating a -0.61% shift from the previous trading day.

The latest trading day saw Simon Property (SPG) settling at $141.49, representing a -0.78% change from its previous close.

Simon Property Group has had a solid-performing run over the past year but remains undervalued and well below normal valuation. SPG's operating fundamentals have shown continued strength and tenant demand remains strong, especially among luxury retailers. SPG remains an appealing value and income stock, with a strong balance sheet, attractive dividend yield of 5.4%, and potential for long-term growth.

Investors in Simon Property Group have experienced a dramatic revival in their fortunes over the past three months, as it bottomed out in October 2023. The surge has normalized Simon Property Group's valuation closer to its 10-year average, suggesting a significantly less enticing risk/reward. However, the REIT still isn't expensive. Simon's third-quarter earnings indicate that the company has not been impacted by struggles seen in typical office landlords. Its Class A high-quality asset portfolio has remained resilient.

Simon Property Group has seen a significant increase in its share price and is trading at pre-pandemic levels. REITs, including SPG, could benefit from a rate easing cycle and investors seeking yield. The narrative that e-commerce is killing physical retail is incorrect, and physical retail is still thriving with a potential for growth.

INDIANAPOLIS , Jan. 10, 2024 /PRNewswire/ --  Simon ®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced details for its fourth quarter earnings release and conference call.  Simon's financial and operational results for the quarter ending December 31, 2023, will be released after the market close on February 5, 2024.