Simon Property Group Inc.

SPG-N

NYSE:SPG

146.01
3.10 (2.08%)
Simon Property Group, Inc. is an American commercial real estate company in the United States and the largest real estate investment trust. It is also the largest shopping mall operator in America.
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Analysis and Opinions about SPG-N

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
August 22, 2019
The largest mall owner in the US. She doesn't like malls or retail, and the US has too much retail, much higher per capita than in Canada and the UK. SPG faces tenant bankruptcies, but Simon is the best operator in US mall REITs. Doesn't see growth.
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The largest mall owner in the US. She doesn't like malls or retail, and the US has too much retail, much higher per capita than in Canada and the UK. SPG faces tenant bankruptcies, but Simon is the best operator in US mall REITs. Doesn't see growth.
COMMENT
COMMENT
June 9, 2017

US REITs? He shares his interest in the sector because they rose dramatically from the crisis years, and then eased back a little. There are 2 concerns. Higher interest rates and their ability to borrow. There is also the question about the need for property given the migration of consumer spending to the Internet from the old bricks and mortar mall. He would urge you to look at the Simon Property Group, because it is the largest and bluest chip of all the mall operators.

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US REITs? He shares his interest in the sector because they rose dramatically from the crisis years, and then eased back a little. There are 2 concerns. Higher interest rates and their ability to borrow. There is also the question about the need for property given the migration of consumer spending to the Internet from the old bricks and mortar mall. He would urge you to look at the Simon Property Group, because it is the largest and bluest chip of all the mall operators.

PAST TOP PICK
PAST TOP PICK
February 8, 2017

(A Top Pick Jan 27/16. Up 0.31%.) This is interest rate sensitive, which has been a drag on the stock. It is the best of breed and has great use of capital. Pristine balance sheet. Great international exposure. Class A mall operator. But this is not the time. Rates are going higher which means a cap rate on the valuation of the hard assets is a bit tougher right now.

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(A Top Pick Jan 27/16. Up 0.31%.) This is interest rate sensitive, which has been a drag on the stock. It is the best of breed and has great use of capital. Pristine balance sheet. Great international exposure. Class A mall operator. But this is not the time. Rates are going higher which means a cap rate on the valuation of the hard assets is a bit tougher right now.

COMMENT
COMMENT
January 31, 2017

E-commerce is a big threat, but he is comfortable owning this because they have fantastic properties and great locations. These are in closed malls, but they have high output. Their sales per square foot is very high and traffic continues to go up. They’ve done a fantastic job of reorienting some of the malls to make them look a little more service oriented. A good example of location, location, location. Trading at a substantial discount to NAV, and he would be prone to pick away at this here.

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E-commerce is a big threat, but he is comfortable owning this because they have fantastic properties and great locations. These are in closed malls, but they have high output. Their sales per square foot is very high and traffic continues to go up. They’ve done a fantastic job of reorienting some of the malls to make them look a little more service oriented. A good example of location, location, location. Trading at a substantial discount to NAV, and he would be prone to pick away at this here.

TOP PICK
TOP PICK
December 15, 2016

This has sold off dramatically. It is the largest REIT in the world with one of the strongest balance sheets. They own the highest quality malls. They are growing and can deliver growth to offset a higher cost of capital in coming years. (Analysts’ Target: $220.86)

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This has sold off dramatically. It is the largest REIT in the world with one of the strongest balance sheets. They own the highest quality malls. They are growing and can deliver growth to offset a higher cost of capital in coming years. (Analysts’ Target: $220.86)

DON'T BUY
DON'T BUY
November 25, 2016

REITs tend to do well in the spring and summer. Once we get into September, we enter into a period of seasonal weakness. That takes a lot of the REITs lower until about the Nov/Dec timeframe. The chart for this year shows it going up to the beginning of August and then dropping with lower lows and lower highs. Momentum indicators are heading lower and it is underperforming the market.

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REITs tend to do well in the spring and summer. Once we get into September, we enter into a period of seasonal weakness. That takes a lot of the REITs lower until about the Nov/Dec timeframe. The chart for this year shows it going up to the beginning of August and then dropping with lower lows and lower highs. Momentum indicators are heading lower and it is underperforming the market.

Jon Vialoux

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Price
$181.300
Owned
Unknown
DON'T BUY
DON'T BUY
August 22, 2016

In the REIT sector, rather than retail. The market is looking for yield. He is worried about this because of Amazon and because REITs have had a lot of a run up.

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In the REIT sector, rather than retail. The market is looking for yield. He is worried about this because of Amazon and because REITs have had a lot of a run up.

John Burke

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Price
$212.490
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
April 6, 2016

(Top Pick Apr 9/15, Up 11.72%) He likes this name and continues to hold it. They are a unique competitor in that real estate space. He is not a high growth name and watch for interest rates to rise.

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(Top Pick Apr 9/15, Up 11.72%) He likes this name and continues to hold it. They are a unique competitor in that real estate space. He is not a high growth name and watch for interest rates to rise.

TOP PICK
TOP PICK
January 27, 2016

Best in class operator, assets and balance sheet. Quickly escalating rates could be a negative. They are internationally diversified. Good ‘A’ properties all round. They have the best leading numbers of anyone. They are in the top markets. They are the best in the business.

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Best in class operator, assets and balance sheet. Quickly escalating rates could be a negative. They are internationally diversified. Good ‘A’ properties all round. They have the best leading numbers of anyone. They are in the top markets. They are the best in the business.

TOP PICK
TOP PICK
April 9, 2015

The largest REIT in the world with a lot of operations in the US and some in Canada, Europe and Asia. Business conditions continue to look pretty good. Consumer spending in the US remains pretty firm. Occupancy levels continue to be quite tight, which will allow revenues to remain pretty strong. They also did a share buyback. Dividend yield of 2.84%.

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The largest REIT in the world with a lot of operations in the US and some in Canada, Europe and Asia. Business conditions continue to look pretty good. Consumer spending in the US remains pretty firm. Occupancy levels continue to be quite tight, which will allow revenues to remain pretty strong. They also did a share buyback. Dividend yield of 2.84%.

COMMENT
COMMENT
January 9, 2015

The biggest REIT in the US. A decent, very high quality REIT with the exception that it is a little bit expensive. However, you could make that argument for most US REITs, which was the best performing sector last year. This was because people rotated into sectors where there is a high degree of predictability of income and an improving economy. You can expect to get higher dividend growth. If there is just a little bit of a sign of interest rates going up, this is going to go down.

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The biggest REIT in the US. A decent, very high quality REIT with the exception that it is a little bit expensive. However, you could make that argument for most US REITs, which was the best performing sector last year. This was because people rotated into sectors where there is a high degree of predictability of income and an improving economy. You can expect to get higher dividend growth. If there is just a little bit of a sign of interest rates going up, this is going to go down.

PAST TOP PICK
PAST TOP PICK
July 9, 2014

(Top Pick July 9/13, Up 12.67%) They spun off some of their lower quality assets so the remaining portfolio will be very powerful in terms of sales per square foot. They now provide exposure to higher end consumers. 5% free cash flow growth going into 2015.

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(Top Pick July 9/13, Up 12.67%) They spun off some of their lower quality assets so the remaining portfolio will be very powerful in terms of sales per square foot. They now provide exposure to higher end consumers. 5% free cash flow growth going into 2015.

BUY
BUY
April 29, 2014

You can’t go wrong with this one. Beautiful retail properties. The best malls don’t suffer from e-commerce. Their last earnings surprised significantly to upside. A good long term hold.

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You can’t go wrong with this one. Beautiful retail properties. The best malls don’t suffer from e-commerce. Their last earnings surprised significantly to upside. A good long term hold.

STRONG BUY
STRONG BUY
February 26, 2014

Tremendous value in this company. Best real estate portfolio in the world and trading at a big discount to its NAV. This is the largest component of the US real estate index. As money comes back into REITs this one will benefit the most. It is his largest US holding.

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Tremendous value in this company. Best real estate portfolio in the world and trading at a big discount to its NAV. This is the largest component of the US real estate index. As money comes back into REITs this one will benefit the most. It is his largest US holding.

PAST TOP PICK
PAST TOP PICK
November 20, 2013

(A Top Pick July 9/13. Down 4.2%.) Payout ratio of 70%. Had very strong earnings reporting in Q3. Trading at about a 10% discount to NAV were historically it traded at a 3% premium. Feels it owns the highest quality mall portfolio in the US and they are now expending globally as well. Valuation is very compelling.

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(A Top Pick July 9/13. Down 4.2%.) Payout ratio of 70%. Had very strong earnings reporting in Q3. Trading at about a 10% discount to NAV were historically it traded at a 3% premium. Feels it owns the highest quality mall portfolio in the US and they are now expending globally as well. Valuation is very compelling.

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