SPG

Simon Property Group Inc

Finance/Real Estate


Presented:08/21/2019
Price:$147.38
Cap:$45.40B
Current Price:$174.63
Cap:$56.94B

Presented

Date08/21/2019
Price$147.38
Market Cap$45.40B
Ent Value$72.88B
P/E Ratio21.03x
Book Value$9.34
Div Yield5.35%
Shares O/S308.02M
Ave Daily Vol1,581,252
Short Int4.41%

Current

Price$174.63
Market Cap$56.94B
Simon Property Group, Inc. operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in December 1993 and is headquartered in Indianapolis, IN.

Publicly traded companies mentioned herein: JC Penney Co Inc (JCP), Macerich Co/The (MAC), Pennsylvania Real Estate Investment Trust (PEI), Simon Property Group Inc (SPG), Tanger Factory Outlet Centers Inc (SKT), Washington Prime Group Inc (WPG)

Highlights

The presenter continues to be bearish on mall REITs and considers a short position in Simon Property Group Inc (SPG) as a good way to capitalize on this. Market sentiment has been negative for a couple of years, citing store closures and “the death of the mall,” but the presenter doesn’t necessarily think that’s true. His thesis, which is more pessimistic than most bears in his opinion, is based on rents secularly declining over several years and isn’t reflected in today’s share prices. Over the next five years, he expects a major shakeup in which malls rents decline 50%.

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Idea Discussion

Commentor 1 - 2 weeks ago

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