honglouwawa/iStock via Getty Images In this article, we will introduce you to the changes that occurred in Q4 in the company Simon Property Group, Inc. ( SPG ) - financial and credit metrics. As well as the changes with financial instruments, especially its preferred stock, SPG.PR.J . As we mentioned in our last article , we always buy it when it is reasonably priced and sell when it is overvalued...
honglouwawa/iStock via Getty Images In this article, we will introduce you to the changes that occurred in Q4 in the company Simon Property Group, Inc. ( SPG ) - financial and credit metrics. As well as the changes with financial instruments, especially its preferred stock, SPG.PR.J . As we mentioned in our last article , we always buy it when it is reasonably priced and sell when it is overvalued - see more details in the next lines. SPG in details At the end of the 4th quarter, Simon Property Group has close to $40.6 billion - around 20% more than Q3. The current market capitalization is around $72.98 billion. The total debt is approximately $29.18 billion. EBITDA is $3.17 billion. Currently, SPG has more than 250 properties across 25 markets. SPG has an "A" credit rating by S&P: SPG's credit rating (spglobal.com) Financial Metrics Using the information from the earnings, we will calculate some important financial metrics for the company: Asset Yield ((total revenue - operating expenses + depreciation and amortization) / total assets): 11.33%. Asset Coverage Ratio (total assets/debt): 139%. Operating Expenses/Total Revenue (excluding depreciation and amortization): 27.6%. Interest Expenses/Debt: 3.34%. Rental Revenue: 14.38% We also calculate market-adjusted asset yield to be more accurate. Therefore, we will need a price-to-book value, which is, at the time of writing, 12.05. We replace the book value of equity with its market value by applying the current price/book. From here, we can calculate the market-adjusted yield and the market-adjusted asset coverage ratio. Market Adjusted Asset Yield: 4%. Market Adjusted Asset Coverage ratio: 392%. Expected AFFO Yield: 6.02%. Basic Valuation Metrics (seekingalpha.com) Credit Rating As we showed above, SPG has an "A" credit rating from S&P. However, we want to look at its separate credit metrics using our favorite Moody's approach. Moody's approach (moodys.com) - The gross assets of SPG are close to $61.3 billion, and th...
NuScale Power (NYSE: SMR) is a nuclear technology company trying to change how we build nuclear power plants. In simple terms, it wants to build small nuclear reactors that can be produced in a factory. In practice, several of these reactors can be grouped together to generate larger amounts of power. The company's technology could serve a range of applications, but the most talked-about use case ...
NuScale Power (NYSE: SMR) is a nuclear technology company trying to change how we build nuclear power plants. In simple terms, it wants to build small nuclear reactors that can be produced in a factory. In practice, several of these reactors can be grouped together to generate larger amounts of power. The company's technology could serve a range of applications, but the most talked-about use case right now is data centers . Image source: Getty Images. Data centers have a real need for the kind of 24/7 electricity that small modular reactors (SMRs) can produce. Several nuclear start-ups are vying to become the go-to power source for artificial intelligence, including Oklo and Nano Nuclear Energy , but so far, NuScale is the only U.S. company with an NRC-approved SMR design. Continue reading
This dominant tradition in the party has long insisted on appeasing powerful interests. But it’s unsuited to modern times Labour is a more complicated political party than most. For over a century, it has tried to contain warring traditions, philosophies and factions. Internal disagreements have been driven not just by personal rivalries, but by profound differences about how, and how much, to cha...
This dominant tradition in the party has long insisted on appeasing powerful interests. But it’s unsuited to modern times Labour is a more complicated political party than most. For over a century, it has tried to contain warring traditions, philosophies and factions. Internal disagreements have been driven not just by personal rivalries, but by profound differences about how, and how much, to challenge Britain’s deeply embedded arrangements of power and wealth. The party’s current crisis, while most directly caused by Keir Starmer’s political shortcomings and the chillingly selective morality of Peter Mandelson, is really the result of one Labour tradition demonstrably failing in government to meet the needs of today’s world. Often dominant in the party, especially over the past 40 years, you could call that tradition Labour minimalism. Andy Beckett is a Guardian columnist Continue reading...
Australia unveiled AU$3.9 billion (US$2.8 billion) in spending on Sunday as a “down payment” on a new facility to build nuclear submarines under the tripartite Aukus security pact with Britain and the United States. The Aukus pact aims to arm Australia with a fleet of cutting-edge submarines from the United States and would provide for cooperation in developing an array of warfare technologies. Th...
Australia unveiled AU$3.9 billion (US$2.8 billion) in spending on Sunday as a “down payment” on a new facility to build nuclear submarines under the tripartite Aukus security pact with Britain and the United States. The Aukus pact aims to arm Australia with a fleet of cutting-edge submarines from the United States and would provide for cooperation in developing an array of warfare technologies. The submarines, the sale of which will begin in 2032, lie at the heart of Australia’s strategy of...
Micron Technology (NasdaqGS:MU) has started high volume production of its next generation HBM4 memory chips a quarter earlier than planned. The company reports that its entire 2026 HBM supply is already committed to customers. Micron is positioning itself as a key memory supplier for AI infrastructure as Samsung moves closer to certifying its own HBM4 for Nvidia GPUs. Micron is best known for DRAM...
Micron Technology (NasdaqGS:MU) has started high volume production of its next generation HBM4 memory chips a quarter earlier than planned. The company reports that its entire 2026 HBM supply is already committed to customers. Micron is positioning itself as a key memory supplier for AI infrastructure as Samsung moves closer to certifying its own HBM4 for Nvidia GPUs. Micron is best known for DRAM and NAND, but HBM4 puts it directly at the center of AI data center builds, where memory...
Palantir Technologies (NasdaqGS:PLTR) received key accreditation from the U.S. Defense Information Systems Agency for its Federal Cloud Service Forward, enabling edge-deployable AI across government and defense settings. The authorization supports rapid, hardware agnostic rollout of Palantir's AI and data platforms in operational environments for U.S. government customers. Separately, Palantir ren...
Palantir Technologies (NasdaqGS:PLTR) received key accreditation from the U.S. Defense Information Systems Agency for its Federal Cloud Service Forward, enabling edge-deployable AI across government and defense settings. The authorization supports rapid, hardware agnostic rollout of Palantir's AI and data platforms in operational environments for U.S. government customers. Separately, Palantir renewed its multi year Skywise contract with Airbus, extending its role in Airbus's civil aviation...
Are you worried about an artificial intelligence (AI) bubble? You're not alone if you are. Fears abound in the media that AI stocks are going through the same cycle internet stocks did during the dot-com boom and crash in the late 90s and early 2000s. AI stocks have generated incredible returns over the past three years but it's always a good idea to hedge your bets. And the business I want to tal...
Are you worried about an artificial intelligence (AI) bubble? You're not alone if you are. Fears abound in the media that AI stocks are going through the same cycle internet stocks did during the dot-com boom and crash in the late 90s and early 2000s. AI stocks have generated incredible returns over the past three years but it's always a good idea to hedge your bets. And the business I want to talk about today is a consumer discretionary company has absolutely nothing to do with AI, so it ought to make a solid hedge against it and allow you to profit from what seems to be the company's recovery from two years of struggle. Continue reading