Subtext

Simon Property Group, Inc. SPG

SectorReal Estate
Transcripts71
Date range2007-10-29 – 2025-05-12
Calls charted71

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-12-6+0+6+122007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Overall: +3.22007 Q4 · Overall: +1.12008 Q1 · Overall: -3.22008 Q2 · Overall: -2.02008 Q3 · Overall: +1.02008 Q4 · Overall: -1.82009 Q1 · Overall: -0.92009 Q2 · Overall: +4.12009 Q3 · Overall: +1.62009 Q4 · Overall: +7.02010 Q1 · Overall: +3.32010 Q2 · Overall: +4.02010 Q3 · Overall: +4.12010 Q4 · Overall: +3.52011 Q1 · Overall: +6.52011 Q2 · Overall: +1.92011 Q3 · Overall: +3.62011 Q4 · Overall: +6.02012 Q1 · Overall: +8.72012 Q2 · Overall: +5.52012 Q3 · Overall: +4.02012 Q4 · Overall: +4.92013 Q1 · Overall: +10.12013 Q2 · Overall: +6.52013 Q3 · Overall: +8.52013 Q4 · Overall: +5.52014 Q1 · Overall: +4.82014 Q2 · Overall: +5.12014 Q3 · Overall: +7.22014 Q4 · Overall: +5.42015 Q1 · Overall: +4.22015 Q2 · Overall: +8.02015 Q3 · Overall: +8.72015 Q4 · Overall: +2.92016 Q1 · Overall: +5.22016 Q2 · Overall: +5.72016 Q3 · Overall: +5.22016 Q4 · Overall: +5.42017 Q1 · Overall: +3.42017 Q2 · Overall: +3.82017 Q3 · Overall: +1.52017 Q4 · Overall: +3.32018 Q1 · Overall: +3.42018 Q2 · Overall: +8.52018 Q3 · Overall: +4.12018 Q4 · Overall: +6.82019 Q1 · Overall: -0.22019 Q2 · Overall: +0.72019 Q3 · Overall: +3.42019 Q4 · Overall: -1.92020 Q1 · Overall: +1.02020 Q2 · Overall: -4.02020 Q3 · Overall: +0.42020 Q4 · Overall: -0.72021 Q1 · Overall: +4.92021 Q2 · Overall: -1.12021 Q3 · Overall: -0.42021 Q4 · Overall: +1.12022 Q1 · Overall: +4.82022 Q2 · Overall: +0.62022 Q3 · Overall: -0.92022 Q4 · Overall: +3.12023 Q1 · Overall: +1.52023 Q2 · Overall: +2.72023 Q3 · Overall: +4.12023 Q4 · Overall: +5.62024 Q1 · Overall: -3.02024 Q2 · Overall: +3.52024 Q3 · Overall: +4.72024 Q4 · Overall: +4.32025 Q1 · Overall: +1.7
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-57-29+0+29+572007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · CEO: +8.02007 Q4 · CEO: +5.72008 Q1 · CEO: +3.62008 Q2 · CEO: +1.42008 Q3 · CEO: +0.22008 Q4 · CEO: +2.02009 Q1 · CEO: +2.82009 Q2 · CEO: +7.32009 Q3 · CEO: +6.72009 Q4 · CEO: +12.22010 Q1 · CEO: +11.12010 Q2 · CEO: +9.12010 Q3 · CEO: +10.02010 Q4 · CEO: +10.02011 Q1 · CEO: +11.72011 Q2 · CEO: +4.32011 Q3 · CEO: +8.62011 Q4 · CEO: +8.02012 Q1 · CEO: +12.52012 Q2 · CEO: +10.22012 Q3 · CEO: +9.82012 Q4 · CEO: +10.02013 Q1 · CEO: +16.82013 Q2 · CEO: +13.32013 Q3 · CEO: +14.82013 Q4 · CEO: +9.52014 Q1 · CEO: +5.22014 Q2 · CEO: +7.72014 Q3 · CEO: +15.82014 Q4 · CEO: +7.62015 Q1 · CEO: +7.22015 Q2 · CEO: +10.42015 Q3 · CEO: +15.72015 Q4 · CEO: +7.72016 Q1 · CEO: +7.92016 Q2 · CEO: +10.22016 Q3 · CEO: +7.62016 Q4 · CEO: +7.62017 Q1 · CEO: +6.42017 Q2 · CEO: +6.42017 Q3 · CEO: +4.02017 Q4 · CEO: +3.72018 Q1 · CEO: +4.52018 Q2 · CEO: +9.92018 Q3 · CEO: +5.02018 Q4 · CEO: +8.22019 Q1 · CEO: +0.02019 Q2 · CEO: +2.92019 Q3 · CEO: +7.52019 Q4 · CEO: -0.12020 Q1 · CEO: +4.72020 Q2 · CEO: -3.02020 Q3 · CEO: +4.42020 Q4 · CEO: +4.52021 Q1 · CEO: +9.02021 Q2 · CEO: +2.12021 Q3 · CEO: +5.22021 Q4 · CEO: +7.32022 Q1 · CEO: +10.02022 Q2 · CEO: +8.42022 Q3 · CEO: -0.32022 Q4 · CEO: +9.02023 Q1 · CEO: +8.42023 Q2 · CEO: +8.02023 Q3 · CEO: +7.22023 Q4 · CEO: +10.92024 Q1 · CEO: +3.62024 Q2 · CEO: +6.12024 Q3 · CEO: +7.82024 Q4 · CEO: +7.52025 Q1 · CEO: +6.52007 Q3 · CFO: +7.02007 Q4 · CFO: +2.42008 Q1 · CFO: -11.52008 Q2 · CFO: -3.62008 Q3 · CFO: +4.02008 Q4 · CFO: -3.62009 Q1 · CFO: +0.92009 Q2 · CFO: +3.42009 Q3 · CFO: +2.32009 Q4 · CFO: +8.52010 Q1 · CFO: -5.42010 Q2 · CFO: -1.42010 Q3 · CFO: -10.22010 Q4 · CFO: -6.82011 Q1 · CFO: -50.02011 Q2 · CFO: +4.22011 Q3 · CFO: +0.02011 Q4 · CFO: +10.72012 Q1 · CFO: +27.82012 Q2 · CFO: +5.62012 Q3 · CFO: +1.12012 Q4 · CFO: +5.52013 Q1 · CFO: +3.82013 Q2 · CFO: +5.02013 Q3 · CFO: +3.12013 Q4 · CFO: +19.02014 Q1 · CFO: +6.02014 Q2 · CFO: +4.02014 Q3 · CFO: +14.72014 Q4 · CFO: +5.52015 Q1 · CFO: +9.72015 Q4 · CFO: +0.02016 Q4 · CFO: +0.02017 Q1 · CFO: +12.72017 Q4 · CFO: +5.12018 Q1 · CFO: +41.72018 Q3 · CFO: +14.72018 Q4 · CFO: +0.02019 Q2 · CFO: -17.22019 Q3 · CFO: +7.62019 Q4 · CFO: +18.62020 Q1 · CFO: +4.92020 Q3 · CFO: +0.02020 Q4 · CFO: -6.02021 Q1 · CFO: +0.02021 Q2 · CFO: +0.02022 Q1 · CFO: -10.92022 Q2 · CFO: +29.02022 Q3 · CFO: +0.02022 Q4 · CFO: +17.22023 Q1 · CFO: -15.72023 Q2 · CFO: +0.02023 Q3 · CFO: -8.02023 Q4 · CFO: -20.42024 Q1 · CFO: +0.02024 Q2 · CFO: +9.12024 Q3 · CFO: +4.22024 Q4 · CFO: +5.42025 Q1 · CFO: +0.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-37-19+0+19+372007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Prepared remarks: +8.82007 Q4 · Prepared remarks: +6.82008 Q1 · Prepared remarks: -2.42008 Q2 · Prepared remarks: +1.62008 Q3 · Prepared remarks: +2.92008 Q4 · Prepared remarks: -5.72009 Q1 · Prepared remarks: -3.42009 Q2 · Prepared remarks: -1.32009 Q3 · Prepared remarks: -7.02009 Q4 · Prepared remarks: +10.12010 Q1 · Prepared remarks: +3.32010 Q2 · Prepared remarks: +3.62010 Q3 · Prepared remarks: +13.32010 Q4 · Prepared remarks: +10.62011 Q1 · Prepared remarks: +0.62011 Q2 · Prepared remarks: +3.12011 Q3 · Prepared remarks: +8.42011 Q4 · Prepared remarks: +13.82012 Q1 · Prepared remarks: +14.32012 Q2 · Prepared remarks: +15.52012 Q3 · Prepared remarks: +15.52012 Q4 · Prepared remarks: +14.92013 Q1 · Prepared remarks: +14.92013 Q2 · Prepared remarks: +10.92013 Q3 · Prepared remarks: +22.82013 Q4 · Prepared remarks: +13.52014 Q1 · Prepared remarks: +10.22014 Q2 · Prepared remarks: +9.62014 Q3 · Prepared remarks: +20.42014 Q4 · Prepared remarks: +12.62015 Q1 · Prepared remarks: +12.12015 Q2 · Prepared remarks: +7.32015 Q3 · Prepared remarks: +9.62015 Q4 · Prepared remarks: +2.92016 Q1 · Prepared remarks: +14.72016 Q2 · Prepared remarks: +14.62016 Q3 · Prepared remarks: +7.42016 Q4 · Prepared remarks: +7.12017 Q1 · Prepared remarks: +20.92017 Q2 · Prepared remarks: +10.42017 Q3 · Prepared remarks: +0.02017 Q4 · Prepared remarks: +4.52018 Q1 · Prepared remarks: +7.42018 Q2 · Prepared remarks: +14.52018 Q3 · Prepared remarks: +10.32018 Q4 · Prepared remarks: +13.62019 Q1 · Prepared remarks: +10.82019 Q2 · Prepared remarks: +8.92019 Q3 · Prepared remarks: +6.82019 Q4 · Prepared remarks: -0.52020 Q1 · Prepared remarks: -4.42020 Q2 · Prepared remarks: -0.62020 Q3 · Prepared remarks: -1.22020 Q4 · Prepared remarks: +4.12021 Q1 · Prepared remarks: +11.32021 Q2 · Prepared remarks: +2.62021 Q3 · Prepared remarks: +10.72021 Q4 · Prepared remarks: +8.12022 Q1 · Prepared remarks: +9.02022 Q2 · Prepared remarks: +11.72022 Q3 · Prepared remarks: +10.52022 Q4 · Prepared remarks: +18.02023 Q1 · Prepared remarks: +7.92023 Q2 · Prepared remarks: +6.42023 Q3 · Prepared remarks: +8.62023 Q4 · Prepared remarks: +8.72024 Q1 · Prepared remarks: +32.32024 Q2 · Prepared remarks: +6.52024 Q3 · Prepared remarks: +5.32024 Q4 · Prepared remarks: +12.02025 Q1 · Prepared remarks: +1.12007 Q3 · Q&A responses: +4.92007 Q4 · Q&A responses: +2.82008 Q1 · Q&A responses: +1.82008 Q2 · Q&A responses: +2.02008 Q3 · Q&A responses: +3.02008 Q4 · Q&A responses: +3.32009 Q1 · Q&A responses: +3.22009 Q2 · Q&A responses: +8.72009 Q3 · Q&A responses: +7.42009 Q4 · Q&A responses: +12.22010 Q1 · Q&A responses: +10.42010 Q2 · Q&A responses: +9.02010 Q3 · Q&A responses: +6.62010 Q4 · Q&A responses: +7.82011 Q1 · Q&A responses: +11.12011 Q2 · Q&A responses: +6.52011 Q3 · Q&A responses: +5.72011 Q4 · Q&A responses: +8.52012 Q1 · Q&A responses: +11.42012 Q2 · Q&A responses: +8.62012 Q3 · Q&A responses: +6.62012 Q4 · Q&A responses: +6.22013 Q1 · Q&A responses: +13.52013 Q2 · Q&A responses: +9.22013 Q3 · Q&A responses: +11.22013 Q4 · Q&A responses: +8.82014 Q1 · Q&A responses: +7.32014 Q2 · Q&A responses: +6.92014 Q3 · Q&A responses: +9.02014 Q4 · Q&A responses: +6.52015 Q1 · Q&A responses: +7.42015 Q2 · Q&A responses: +12.32015 Q3 · Q&A responses: +15.02015 Q4 · Q&A responses: +8.02016 Q1 · Q&A responses: +8.22016 Q2 · Q&A responses: +8.12016 Q3 · Q&A responses: +8.12016 Q4 · Q&A responses: +8.32017 Q1 · Q&A responses: +5.72017 Q2 · Q&A responses: +5.52017 Q3 · Q&A responses: +4.52017 Q4 · Q&A responses: +6.12018 Q1 · Q&A responses: +4.92018 Q2 · Q&A responses: +10.32018 Q3 · Q&A responses: +4.72018 Q4 · Q&A responses: +8.32019 Q1 · Q&A responses: -0.82019 Q2 · Q&A responses: +1.82019 Q3 · Q&A responses: +8.22019 Q4 · Q&A responses: +0.62020 Q1 · Q&A responses: +5.82020 Q2 · Q&A responses: -3.62020 Q3 · Q&A responses: +4.32020 Q4 · Q&A responses: +0.92021 Q1 · Q&A responses: +7.42021 Q2 · Q&A responses: +1.42021 Q3 · Q&A responses: -1.42021 Q4 · Q&A responses: +6.02022 Q1 · Q&A responses: +7.92022 Q2 · Q&A responses: +7.02022 Q3 · Q&A responses: -5.42022 Q4 · Q&A responses: +5.82023 Q1 · Q&A responses: +6.42023 Q2 · Q&A responses: +7.32023 Q3 · Q&A responses: +4.82023 Q4 · Q&A responses: +9.32024 Q1 · Q&A responses: +2.02024 Q2 · Q&A responses: +6.72024 Q3 · Q&A responses: +6.22024 Q4 · Q&A responses: +4.22025 Q1 · Q&A responses: +4.8
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$3.42$5.54$7.662007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: $4.592014 Q2: $4.462014 Q3: $4.672014 Q4: $5.032015 Q1: $4.982015 Q2: $5.382015 Q3: $5.632015 Q4: $5.862016 Q1: $6.062016 Q2: $6.512016 Q3: $6.502016 Q4: $6.882017 Q1: $6.682017 Q2: $6.682017 Q3: $6.852017 Q4: $6.822018 Q1: $6.782018 Q2: $7.282018 Q3: $7.372018 Q4: $7.352019 Q1: $7.262019 Q2: $7.172019 Q3: $7.142019 Q4: $7.182020 Q1: $6.902020 Q2: $5.472020 Q3: $5.202020 Q4: $3.712021 Q1: $4.292021 Q2: $4.532021 Q3: $5.372021 Q4: $6.092022 Q1: $5.952022 Q2: $5.722022 Q3: $5.882022 Q4: $6.452023 Q1: $5.922023 Q2: $6.332023 Q3: $6.292023 Q4: $6.242024 Q1: $6.202024 Q2: $6.702024 Q3: $6.59

Forward P/E

3.9522.4841.012007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: 34.802014 Q2: 37.292014 Q3: 35.892014 Q4: 36.382015 Q1: 38.452015 Q2: 33.412015 Q3: 32.552015 Q4: 32.992016 Q1: 33.092016 Q2: 31.352016 Q3: 31.992016 Q4: 26.352017 Q1: 25.462017 Q2: 23.902017 Q3: 23.412017 Q4: 24.322018 Q1: 23.372018 Q2: 22.322018 Q3: 24.412018 Q4: 23.392019 Q1: 24.532019 Q2: 23.032019 Q3: 21.812019 Q4: 20.102020 Q1: 6.512020 Q2: 13.102020 Q3: 14.262020 Q4: 23.802021 Q1: 27.552021 Q2: 28.862021 Q3: 24.452021 Q4: 24.972022 Q1: 22.062022 Q2: 17.052022 Q3: 17.032022 Q4: 18.562023 Q1: 18.512023 Q2: 17.512023 Q3: 18.252023 Q4: 22.322024 Q1: 24.432024 Q2: 21.942024 Q3: 24.95

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q4 tone ↓ -5.8 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -2.4 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -4.4 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↑ +2.9 fwd EPS ↓ -0.28 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↑ +4.4 fwd EPS ↓ -0.27 Tone rose while the forward EPS estimate was cut.
  • 2021 Q2 tone ↓ -6.0 fwd EPS ↑ +0.24 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↑ +3.7 fwd EPS ↓ -0.14 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-12+1.7——View →
2024 Q42025-02-04+4.3——View →
2024 Q32024-11-01+4.7$6.5924.9View →
2024 Q22024-08-05+3.5$6.7021.9View →
2024 Q12024-05-06-3.0$6.2024.4View →
2023 Q42024-02-05+5.6$6.2422.3View →
2023 Q32023-10-30+4.1$6.2918.2View →
2023 Q22023-08-02+2.7$6.3317.5View →